BluEarth Acquires U.S. Development Portfolio, Totaling Over 1 GW

Source: www.gulfoilandgas.com 3/22/2023, Location: North America

BluEarth Renewables US LLC ("BluEarth") is pleased to announce it has acquired seven wind and solar development projects in the United States, totaling approximately 1 GW. BluEarth acquired this development portfolio from Ozone Renewables, LLC ("Ozone") which includes projects in Washington, Oregon, Ohio, and Oklahoma.

BluEarth's growing development pipeline now totals over 7 GW of high-quality wind, solar, and storage development projects that are actively being advanced. The acquired projects will be developed under a development services agreement with Pivot Power Management ("Pivot"). Pivot's team has significant development expertise in these markets that will complement BluEarth's development team. This is BluEarth's second acquisition from Ozone, an experienced renewable energy developer with a track record of successfully developing projects.

"We are excited grow our development portfolio with the addition of these projects which are well positioned in key markets across four states," said Grant Arnold, President and CEO of BluEarth. "This combination of projects fit well into BluEarth's strategic growth plans, and we look forward to working with the experienced team at Pivot to advance development."

"We are happy to expand our partnership with BluEarth through this acquisition and confident that our collaboration will continue to deliver successful projects," said Nick Henriksen, VP of Greenfield Development for Pivot. "The Pivot team has a proven track record, and we are excited to continue to work with BluEarth to advance these new opportunities."

"Ozone is proud to have originated and delivered a meaningful development portfolio to BluEarth," said Larry Seiler Head of Development for Connecticut-Based Ozone Renewables. "We are aligned in BluEarth's mission to accelerate the deployment of high-quality renewable energy assets in North America and appreciate the opportunity to play a key role."

In 2022, BluEarth acquired 2 GW of development projects located in Pennsylvania, Missouri, Ohio, Colorado, and Nevada in addition to various greenfield projects. Construction is also underway on nearly 200 MW of new projects in Alberta and the 280 MW Two Rivers Wind Project in Wyoming is expected to begin construction in 2023.


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