Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Orsted Buys Alabama’s Biggest Solar Farm, Will Sell Power to TVA

July 9, 2020, 6:20 PM

Orsted A/S, the Danish renewable energy developer, acquired a 227-megawatt solar farm under construction in Alabama that will almost double the amount of solar capacity in the state.

The Muscle Shoals solar farm will be Alabama’s largest renewable energy project when it’s complete in the third quarter of 2021, according to a statement Thursday. Terms of the purchase from Longroad Energy Holdings LLC weren’t disclosed.

Tennessee Valley Authority has agreed to buy the output from the northwest Alabama solar farm under a 20-year power-purchase deal. Wells Fargo & Co. will be the sole tax-equity investor and First Solar Inc. is ...