Eni New Energy US Purchases Corazon I and Guajillo in Texas from BayWa r.e.

BayWa r.e. Eni New Energy US Inc. has sold the 266 MW DC (200-MW AC) Corazon I Solar Plant and the 200 MW (400MWh) Guajillo Storage Project. The Corazon I Solar power plant is located in Webb County, Texas. The Guajillo storage project will be operational by the end of 2023.

“We’re pleased to complete the sale of Corazon I and Guajillo assets to Eni New Energy US, a company that is well positioned to build upon the progress we have made and deliver clean, reliable energy to Texas,” says Fred Robinson, CEO of BayWa r.e. Solar Projects LLC. “We are also excited to partner with Eni to manage the plant operations of Corazon through our services business, BayWa r.e. Operations Services, LLC.”

“As we focus on our core strategies to grow our footprint in the U.S. market, this deal allows BayWa r.e. to reinvest capital in the company’s development pipeline across the country, including projects in ERCOT,” adds Robinson. “We’re excited to r.e.think energy and deliver progressive solutions into a rapidly growing market that will continue to thrive as we see the increasing implementation of utility-scale solar together with storage.”

BayWa r.e. Corazon I was acquired in early-stage in 2019. The project became commercially operational in August 2021. The company partnered with the North American Development Bank along with three other lenders to sign a credit arrangement for up to $216.1 Million to finance the design and construction of Corazon I.

BayWa r.e. BayWa r.e. The electricity and renewable credits generated are being sold by a retail energy provider via a long-term power buy agreement and in wholesale electricity markets.