Cordelio Power acquired a 900 MW AC solar project pipeline from SunEast Renewables LLC. The projects are located in New York, including 600 MW AC projects that were fully contracted under 20 year agreements with the New York State Energy Research Authority. The portfolio includes a mix of early-stage projects, located in New York City and Pennsylvania. Cordelio expects that the projects can be put into service starting in 2023.
“We are delighted to expand into these new markets with the SunEast team,” states John Carson, Cordelio’s CEO. “We look forward to several years of growth in New York and elsewhere as we advance the existing pipeline and originate new projects.”
SunEast has agreed to work exclusively on a Cordelio basis to complete the acquisition of the projects and to develop renewable power projects in New York City and other eastern U.S. cities.
“We are very excited about the opportunity to partner with Cordelio to efficiently transition SunEast’s portfolio of development assets into construction and operation” says Tom Swank, president of SunEast Development. “Cordelio brings both the skill set and financial capability to complete development and build an operating portfolio of solar projects that will provide clean, sustainable, cost-effective renewable power to customers in our target markets.”