Solar projects estimated to generate 100 MWac
energy annually in Pennsylvania
and Ohio
IRVING,
Texas, June 18, 2024 /PRNewswire/ -- Vesper
Energy, a developer, owner and operator of utility-scale renewable
energy assets, announced today the sale of two PJM assets, Gaucho
Solar and Nestlewood Solar, to Octopus Energy Generation.
Octopus Energy Generation manages a global portfolio of nearly
$9 billion of green energy assets.
This marks Vesper Energy's second major transaction in 2024.
"Vesper Energy is excited to transition ownership of our
Nestlewood and Gaucho projects to Octopus Energy Generation,"
said Mark Rostafin, Co-CEO of Vesper
Energy. "Our partnership exemplifies growing investor confidence in
renewable energy developments and supports our organizations'
shared mission to advance a clean, reliable energy
infrastructure."
Vesper Energy will continue to serve as asset manager for both
the Nestlewood and Gaucho sites, ensuring a seamless transition for
its partners and surrounding communities.
The Nestlewood Solar project is located on 610 acres
in Clermont and Brown County,
Ohio and offsets power for a Fortune 100 e-commerce
leader as part of a purchase power agreement (PPA). It is one of
the first utility-scale solar facilities permitted, financed and
constructed in Ohio and is
one of the first U.S. sites to qualify as an energy community under
the Inflation Reduction Act. The site provides on-peak power during
the high-demand period of midday and late afternoon.
Nestlewood Solar also contributes to the local community,
supporting employment opportunities throughout the region and state
and providing annual tax revenues to the host counties.
Furthermore, the project promotes biodiversity while continually
monitoring and managing stormwater and vegetative growth. All these
efforts ensure Nestlewood is a good neighbor in the community.
The Gaucho Solar project is located on 68 acres in Beaver County and Allegheny County, PA. Gaucho Solar is the
largest solar project in Southwestern
Pennsylvania to date — and one of the largest solar projects
in Western Pennsylvania. Gaucho
Solar contributes daily to the University of
Pittsburgh's sustainability and climate action goals with
approximately 55,000 solar panels generating electricity just 25
miles from the Pittsburgh
campus.
Combined, the two projects will generate 100 MWac of energy
annually, enough to power approximately 20,000 homes.
Learn more about the Gaucho Solar and Nestlewood Solar projects
at www.vesperenergy.com.
About Vesper Energy
Vesper Energy provides innovative
solutions to today's complex energy challenges. Headquartered in
Irving, Texas, Vesper Energy is
comprised of professionals who have collectively delivered more
than 10 GW of renewable energy projects globally. Today, Vesper
Energy's development pipeline includes over 55 renewable energy and
energy storage assets with a generating capacity of 17 GW—
enough to power more than 2 million homes. Working with their
customers, communities, and business partners, Vesper Energy
develops, owns, and operates renewable energy projects across
the United States with the goal to
build a better energy infrastructure.
www.vesperenergy.com/about
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SOURCE Vesper Energy