Deriva Energy buys 140-MW solar project from Juwi in Colorado

Deriva Energy buys 140-MW solar project from Juwi in Colorado

Charlotte, North Carolina-based renewables developer-operator Deriva Energy has acquired the 140-MW Spanish Peaks solar project located in Las Animas County, Colorado.

The company said on Monday it had bought the scheme from Colorado-based solar energy firm Juwi Inc, which is majority-owned by Germany’s Juwi AG. The price was not disclosed.

The Spanish Peaks project is currently under construction, with entry into service expected in the fourth quarter of 2024. Juwi will act as the engineering, procurement and construction contractor on the project, while Deriva will be responsible for procuring the solar modules. The two companies will share operations and maintenance responsibilities, Deriva Energy, who will own the solar farm, said.

The Spanish Peaks plant will operate under a 19-year power purchase agreement (PPA) with Tri-State Generation and Transmission Association, a not-for-profit power supply cooperative.

This project will boost Deriva Energy’s portfolio in Colorado to 388 MW of owned and operated capacity. It will also contribute to Tri-State membership’s clean energy goals, which include adding 595 MW of solar to its resource portfolio in 2024-2025.

Deriva Energy is a portfolio company of of Canadian investment manager Brookfield Corp (NYSE:BN).

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