Solar Plus Development, Inc. and Avondale Solar, LLC agree to jointly develop 400 MWac solar project with J-POWER USA Development Co., Ltd.

AUSTIN, Texas, Aug. 5, 2020 /PRNewswire/ -- Solar Plus Development, Inc. ("SPDI"), a subsidiary of Plus Renewable Technologies, Limited ("Plus") and Avondale Solar, LLC ("Avondale") have entered into an agreement with J-POWER USA Development Co., Ltd. ("J-POWER USA") to jointly develop a 400 MWac solar PV project in Refugio County, Texas ("Charger Solar") that they have been developing via their equally owned joint venture company, AP Solar Holdings, LLC ("AP Solar"),

Charger Solar is expected to break ground in second half of 2021 and be operational by the summer of 2023. Due to its close proximity to the Houston metro area, Charger Solar is expected to experience minimal curtailment and basis risk to the premium Houston Zone of ERCOT.

Trevor Nash, CEO of AP Solar Holdings, LLC said "We are very pleased to be working with J-POWER USA on the development of Charger Solar, in addition to the previously announced Red-Tailed Hawk Solar, and, based on the market dynamics and data that we are seeing, Charger Solar will be optimally located to deliver power to both the South and Houston Zones of ERCOT."

"We strive to minimize our carbon footprint by finding innovative clean energy solutions." stated Mark Condon, President and CEO of J-POWER USA. "This joint venture represents an expansion of our relationship with AP Solar which follows our partnership to develop Red-Tail Hawk, a 350 MWac solar project located in Wharton County, TX."  Condon continued.

About the Companies

Plus Renewable Technologies, Limited is led by an experienced management team with domain expertise in infrastructure, renewable energy, capital raising, mergers and acquisitions, investment and asset management.  The Company owns operating renewable assets in China, Taiwan and the U.S. and continues to evaluate and develop new projects in the United States, the United Kingdom, Italy and other Asian markets, including the Philippines, Malaysia, Vietnam, Myanmar, Taiwan, South Korea, and Sri Lanka.  Plus Renewables also owns Radian Generation, its wholly owned subsidiary based in California.  Radian Generation, using its own proprietary technology, LENStm, is one of the world's largest renewable energy asset managers with over 12 GW of third party solar and wind generation assets under management.

Avondale Solar, LLC was founded by affiliates of Snapper Creek Energy Advisors, LLC, and is a privately-held investment holding company created for the purposes of investing in utility-scale solar projects throughout the de-regulated electricity markets in the United States.

AP Solar Holdings, LLC is a joint development company created by Avondale and Plus to provide a full suite of development services and capabilities for Avondale and Plus' utility-scale solar power project development portfolio in the ERCOT power market.

J-POWER USA Development Co., Ltd is a wholly owned subsidiary of J-POWER North America Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power Development Co., Ltd. ("J-POWER") with headquarters located in Tokyo, Japan. J-POWER USA, headquartered in the greater Chicago area, has a long-term strategy to acquire, develop, finance and operate power generation facilities in North America through its team of power professionals with a proven track record of successfully developing and acquiring power projects in the IPP sector. 

SOURCE AP Solar Holdings, LLC