RWE acquires 599 MW of solar and energy storage development projects in New York, Idaho, and Oregon from Galehead Development.
AUSTIN (May 20, 2024) - RWE Clean Energy continues to bolster its renewables development pipeline in the U.S., adding 599 megawatts (MW) of solar and energy storage projects acquired from Galehead Development, LLC (Galehead), an experienced greenfield development platform for wind, solar and storage projects. The move positions RWE to meaningfully expand into new Pacific Northwest markets and grow its existing footprint in New York.
The recently completed acquisitions include two development-stage renewables projects located within PacifiCorp’s operating territory in the Pacific Northwest and a mid-stage development asset in northeastern New York:
· Cedar Ridge: a 300 MWac solar project paired with a 150 MW (600 MWh) energy storage asset located in Blaine County, Idaho. The co-located solar and energy storage project will help meet growing demand and provide regional grid support consistent with PacifiCorp’s resource planning forecasts.
· Remington: a 199 MW, 4-hour (796 MWh) stand-alone BESS asset located in Marion County, Oregon. In addition to providing flexible clean power in response to regional demand fluctuations, the project will be designed to have a smaller overall footprint for minimal impact to existing land use.
· Champlain: a 100 MWac solar PV project located in Washington County, NewYork. The project’s favorable location will help meet growing demand in this section of the NYISO market and expand RWE’s footprint in the state, further demonstrating the company’s commitment to clean energy in the state of New York.
Hanson Wood, Head of Development, Utility-Scale Renewables for RWE Clean Energy: “RWE is excited to close on our first acquisitions with Galehead, in particular the Remington and Cedar Ridge projects which allow us to expand our presence in the Pacific Northwest market where there is robust demand for low-cost, clean power. Importantly, these projects will help provide future grid support, create good-paying jobs and fuel the local economies of Washington, Blain and Marion counties. We look forward to working with the local communities to communicate the benefits of these projects throughout the development process."
John Clifford, Chief Revenue Officer for Galehead Development, LLC: “This transaction is a great validation of the hard work by our team to understand the long-term signals of durable markets, navigate a complex greenfield siting environment and interconnection tariff, and collaborate with the world’s leading Energy Transition investors. We are thrilled to start and build on this partnership with RWE to advance this PacifiCorp project portfolio and future projects.”
RWE currently has 36 gigawatts (GW) of onshore wind, solar and battery energy storage systems (BESS) in its U.S. development pipeline. As RWE continues to expand its U.S. presence, it is leveraging its well-positioned clean energy business to grow its renewables portfolio from more than 9 GW net installed capacity today to more than 19 GW net by 2030.
Growing Green in the U.S.
As one of the world’s leading companies in the field of renewable energies, RWE is driving forward the expansion of its renewables activities. The U.S. plays a key role in RWE’s Growing Green strategy to significantly expand its global green technology capacity to more than 65 GW by 2030, and will comprise 30% of the company’s global green portfolio by the end of the decade.
For more information, visit americas.rwe.com.
Redefining Upstream
Galehead is the leading upstream development platform for planning, managing and delivering renewable generation resources and Energy Transition infrastructure. Galehead is powered by its proprietary LandCommand® software with a proven track record for reducing project development risk, costs and timelines. Since 2016 Galehead has successfully developed and monetized 7 GW of solar PV, wind and battery energy storage projects and is actively developing new greenfield projects and LandCommand® applications with its network of downstream partners across the U.S. The company has more than 60 full-time employees and is headquartered in Boston, MA.
More information on Galehead is available at www.galeheaddev.com.
For further inquiries:
Patricia Kakridas
Senior Manager, Media & PR
RWE Clean Energy
M +1 619-753-5206
Allison Lowitz
Senior Associate, Marketing & Corporate Development
Galehead Development
M +1 617-366-1031
E allison.lowitz@galeheaddev.com
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