Infigen enters joint development agreement with pioneer
29 February 2012
Infigen Energy, an owner, operator and developer of utility-scale renewable energy projects in the US and Australia, has entered into an agreement to jointly develop a portfolio of solar energy projects with US wind and solar developer Pioneer Green Energy.
The agreement provides for the further development of approximately 300 MW of solar energy projects located in California, Arizona and Texas. The projects range in size from 20 MW to 100 MW, with initial project construction potential from 2013 onwards, subject to market conditions.
“We are excited about this transaction as it adds advanced development projects to our portfolio allowing Infigen to grow its business in markets that are complementary to our existing operating assets” said Andrew Flanagan, Vice President of Development & Asset Management at Infigen Energy. “We will continue to look for development and acquisition opportunities that allow us to prudently grow our presence in the US markets”.
“We are thrilled to combine Pioneer’s development resources and capabilities with Infigen’s project execution expertise and operating strength,” said Cyrus Tashakkori, Vice President and head of Pioneer’s solar development. “This agreement marks a big step in growing Pioneer’s solar development assets into operating projects that will produce clean, affordable energy for decades.”
In the US Infigen Energy is a leading renewable energy business with ownership interests in 18 wind farms in 9 states, and is one of the ten largest owners and operators of utility scale wind farms. Infigen has total installed wind farm generation capacity of 1,089 MW (net equity) in the US.
Infigen also owns and operates 6 wind farms in Australia, with more than 550 MW of installed capacity. Infigen Energy develops, builds, owns and operates energy generation assets and manages the sale of the electricity produced to a range of customers in wholesale markets.
Infigen Energy trades on the Australian Securities Exchange under the code IFN.
For further information please visit: www.infigenenergy.com.
Formed in 2009, Pioneer was created to leverage the seven founding members’ strong industry experience and innovative development strategies in order to meet the country’s increasing demand for green energy projects. The company is headed by Andy Bowman, a veteran wind industry executive, and is based in Austin, Texas, with offices in California and staff on the East Coast.
Prior to forming the company, the founding group collectively helped to develop more than 2,500 megawatts of wind projects around the country that are now owned and operated by major renewable energy companies. Pioneer’s portfolio includes more than 30 wind and solar projects in development in key US markets. Pioneer specialises in bringing to market complex, high-value projects driven by in-depth transmission analysis.
For further information please visit: www.pioneergreen.com.