Deriva Energy has achieved a significant milestone with the successful acquisition of Spanish Peaks Solar, a 140 MW solar project located in Las Animas County, Colo. The project has been acquired from the esteemed power developer JUWI, marking a strategic move that positions Deriva Energy as a major player in the sustainable energy sector.

This acquisition allows Deriva Energy to fortify its foothold in Colorado’s energy landscape by owning and operating a total of 388 MW, thus reinforcing its commitment to delivering renewable energy solutions. Through a 19-year Power Purchase Agreement (PPA), Deriva Energy is primed to provide a dedicated energy supply to Tri-State Generation and Transmission Association.

The Spanish Peaks project has already commenced construction and is scheduled to come online in the final quarter of this year. JUWI, renowned for its engineering and construction expertise, will spearhead the project’s development, while Deriva Energy will assume ownership of the plant and jointly manage operations and maintenance with JUWI.

Tri-State Generation and Transmission Association, a key beneficiary of this venture, is a not-for-profit power supply cooperative comprising 45 members, including 42 utility electric distribution cooperatives and public power district members across four states.

The Deriva Energy team is proud to announce this milestone and looks forward to leveraging the Spanish Peaks Solar acquisition to advance sustainable energy solutions and contribute to the economic and environmental well-being of the communities it serves.

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.