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US Solar Fund to acquire 61-MW solar bundle in Oregon

Christian Fernsby ▼ | May 28, 2020
US Solar Fund on Thursday said it has inked an agreement to buy a portfolio of solar projects with a combined capacity of about 61 MW in Oregon.
Oregon solar roof
Portfolio   Oregon solar roof
US Solar Fund is to acquire cash equity interests in the portfolio from US solar developer Southern Current LLC. The two companies signed an exclusivity agreement about the assets in February. USF will use about USD 23 million (EUR 21.9m) of available cash and USD 43 million in long-term bank debt to fund the transaction.

Topics: US Solar Fund

The specific portfolio, with capacity given in direct current (DC), includes four mechanically-complete, utility-scale solar facilities. All projects have long-term power purchase agreements (PPAs) with local utility Portland General Electric for 100% of their output, with a weighted average term of 11.2 years.