Sustainable Power Buys 26.5-Megawatt Project From Solairedirect

(Bloomberg) — Sustainable Power Group, an independent
power producer backed by Fir Tree Partners, bought a 26.5-megawatt project in California from Solairedirect SA.

Solairedirect USA Inc., a subsidiary, will break ground on
the utility-scale Adera project near Fresno beginning this
quarter, Salt Lake City-based Sustainable Power said in
statement Tuesday. The power plant is expected to be operational
in mid-December. Terms of the sale weren’t disclosed.

Southern California Edison Co. has agreed to buy the solar
farm’s output under a 20-year contract. Adera will generate
enough electricity for about 3,000 homes.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jim Efstathiou Jr., Carlos Caminada

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us