Advanced Power, a prominent player in the renewable energy sector, has recently finalized the sale of its 100% interest in the 232 MW DC Oriana Solar project to Sabanci Renewables, a subsidiary of Sabanci Holdings. This transaction marks another successful venture for Advanced Power, as it has achieved the origination and closure of four impressive utility-scale solar and solar+battery storage projects, totaling more than 800 MW DC and 240 MWh of battery storage capacity.

The sale of Oriana Solar, facilitated by the expertise of Marathon Capital LLC, builds upon the fruitful business relationship Advanced Power has established with Sabanci. This collaboration has proven to be highly beneficial, nurturing the growth and development of renewable energy projects.

Located within Victoria County, Texas, Oriana Solar will be co-located with a significant 60 MW/120 MWh battery storage capacity. This strategic positioning allows the project to efficiently serve the load centers in the Gulf Coast region of Texas, including major cities such as Houston, Corpus Christi, and Freeport. The endeavor will significantly contribute towards meeting the energy demands of these populous regions.

The ambitious timeline for Oriana Solar envisions construction commencing in the first quarter of 2024, with commercial operation set to begin by 2025. Once operational, Oriana Solar will actively sell energy and renewable energy credits in the ERCOT power market, further promoting the growth and integration of renewable energy.

This recent development showcases Advanced Power’s commitment to expanding the renewable energy infrastructure and its dedication to pioneering sustainable solutions. The company’s track record in successfully executing utility-scale solar and storage projects demonstrates its expertise and positions it as a leading name within the industry.

The sale of Oriana Solar to Sabanci Renewables highlights the ability of Advanced Power to originate and close remarkable renewable energy projects. As construction is set to commence, the future looks promising for Oriana Solar, contributing to a cleaner and more sustainable energy landscape in the Gulf Coast region of Texas.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.