ARDMORE, Pa., March 4, 2020 /PRNewswire/ -- Glidepath Ventures today announced the sale of an 887.5MWdc portfolio of early-stage utility-scale solar projects in the regional transmission area PJM Interconnection (PJM) to a leading clean energy-focused development and investment firm. Terms of the transaction were not disclosed.
Glidepath Ventures originated and developed the regionally clustered utility scale projects in 2019. The projects are expected to achieve commercial operations in 2022.
"Glidepath was founded in 2017 to create a highly scalable and efficient approach to the origination and development of renewable energy projects. This transaction underscores the success of our scaled origination platform, which we are now deploying with similar success in multiple markets across the United States," said Carl Jackson, a Partner of Glidepath Ventures.
"We're very pleased to have placed this utility-scale project portfolio with a strong, capable developer who can carry these projects forward," said Charles Silio, a Partner of Glidepath Ventures. "Going forward, Glidepath will continue to build on our portfolio of more than 2.0GW of early- and mid-stage solar energy projects and to engage with best-in-class financial and operational partners."
This transaction follows Glidepath's recent announcement of a 278MWdc investment by Grasshopper Solar, bringing their total portfolio in Pennsylvania to more than 1GWdc.
Redwood Energy served as Glidepath Ventures' financial advisor and GreeneHurlocker, PLC served as Glidepath Ventures' legal counsel on the transaction.
About Glidepath Ventures
Glidepath Ventures is an early-stage energy project development firm. Founded in 2017 and headquartered in Ardmore, Pennsylvania, Glidepath Ventures focuses on scaled, efficient origination and development of renewable energy and energy storage projects in North America. Glidepath Ventures has a portfolio of more than 2.0GW of solar projects in various stages of development. To learn more, visit www.glidepathventures.com.