S&B USA (previously Shikun and Binui America) has signed a definitive agreement to purchase a solar project in Texas from US-based renewable energy company Savion.
Located 40 miles south-west of Houston in Brazoria County, the Brazoria West Solar Project has 260MWdc (200MWac) of planned solar energy productivity.
The facility is expected to come online next year, with construction works due to begin in the second quarter of this year.
Upon completion, the facility is expected to generate enough solar energy to power around 37,100 homes in Texas.
The facility has secured one commercial and industrial power purchase agreement (PPA) and another PPA with an energy trading company.
S&B Concession CEO Allon Raveh said: “Shikun and Binui continues to expand its operations and asset base in the US.
“With the continuous penetration of renewable energy in the US market, we are excited to continue to grow our US renewable energy portfolio and believe it will become an increasingly important portion of our activity in the country.”
S&B USA Energy head Kevin Yaich said: “It’s exciting to get into the mid?stage of solar energy development and see it through construction and operations.
“We will continue to build upon our renewable energy portfolio and are actively pursuing other assets at this time.”
This will be the third renewable asset for S&B USA Energy, after acquiring the Beacon II and Beacon V solar projects in California in late December.
This month, UK-based solar energy company Hive Energy sold its Sabinar solar farm project to Israeli investment fund Noy Fund and green tech firm Nofar Energy.
Located in Cuenca, Spain, the 252MW solar farm will cover a 452ha area and is due to enter the construction phase this year.