Falck Renewables North America, Inc. and Eni New Energy US, Inc. through Novis Renewables Holdings, LLC (Novis) signed an agreement with Savion, LLC (Savion) to acquire the ready to build 30-megawatt Westmoreland Solar Project located in Westmoreland County, Virginia (US), Italian Eni announced in a statement on Tuesday.
"The estimated costs for development, construction and transactions cost total $35 million," the statement read.
The project’s commercial operations are expected to start in the third quarter of 2021.
According to the statement, Novis is due to acquire the project by the end of November once certain conditions are met, and will supply safe harbor panels, arrange financing, and perform construction management for the project.
The project will provide carbon-free solar energy to a regional utility serving consumers and industries for decades, avoiding over 33,000 tons of CO2 per year.
By Gulsen Cagatay