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18 Jun 2019 | 09:51

US Solar Fund enters exclusive talks to acquire projects in North Carolina, Oregon

US Solar Fund said it had entered into exclusive talks to acquire a portfolio of utility-scale solar projects in North Carolina and Oregon from Cypress Creek Renewables.

The projects had a total capacity around 90 megawatts and all of them had long-term power purchase agreements with investment-grade offtakers.

Energy delivery was expected to commence in 2020 for all the projects.

The company said its investment manager, New Energy Solar Manager, was completing due diligence and working expeditiously towards a binding agreement.

'USF expects to acquire the portfolio progressively, as each project reaches a 'construction-ready' stage, with the first four projects expected to commence construction early in the second half of 2019,' it added.

At 9:51am: (LON:USF) share price was 0p at 1.03p

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