Danish energy company Ørsted has expanded its footprint in the US, with the acquisition of a 227MW solar project in Alabama.
Located in Colbert County, Alabama, the Muscle Shoals solar project is currently under construction.
With the acquisition, Ørsted will have two solar projects totaling 647MW of generation capacity under construction across the US along with 40MWac of storage capacity.
Ørsted onshore senior vice president & CFO Vishal Kapadia, said: “The acquisition of Muscle Shoals continues the expansion of our solar portfolio and further diversifies the geographic footprint of our asset base by establishing a foothold in the rapidly growing Southeast solar market.
“Once complete, Muscle Shoals will deliver high-quality contracted revenues that will provide Ørsted an attractive incremental source of stable earnings.”
Muscle Shoals is the second solar project for Ørsted in the US.
Expected to begin operations in third quarter 2021, the solar project will feature modules supplied by First Solar.
The Muscle Shoals project is fully contracted under a long-term power purchase agreement with the Tennessee Value Authority (TVA).
In November 2019, the company commenced construction of the Permian Energy Center solar plus storage project in Texas.
Ørsted in partnership with Public Service Enterprise Group (PSEG) is also developing the 1.1GW Ocean Wind offshore project in the US.
To be located 15 miles off the coast of southern New Jersey, the project is expected to generate enough clean energy to power more than half a million New Jersey homes.
In June 2019, the New Jersey Board of Public Utilities (NJBPU) had chosen the Ocean Wind project as the state’s first offshore wind project.