Coronal Group has acquired the solar assets belonging to HelioSage Energy, which has 300 megawatts of capacity in advanced development and 1.5 gigawatts in planning stages.
Details of the deal were not disclosed. Coronal has formed Coronal Development Services to incorporate the HelioSage acquisition. Coronal owns and operates a portfolio of solar facilities in North America with a total of about 100MW of capacity that it owns with Panasonic Eco Solutions.
Coronal was attracted by HelioSage’s strength in utility-scale solar project development, it said in a development. The Coronal-Panasonic platform provides engineering, procurement and construction, project finance and asset management services.
HelioSage has executed more than 400MW of power-purchase agreements with companies including Duke Energy, Georgia Power Company, the Tennessee Valley Authority and others.
