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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Galehead Closes 270 MW Solar Development Acquisition

September 14, 2021 GMT

BOSTON--(BUSINESS WIRE)--Sep 14, 2021--

Galehead Development, an independent Boston-based energy development platform, recently closed on the sale of a 270 megawatt (MWdc) solar development project in the MISO Central region to EDF Renewables (EDFR). EDF Renewables is a leading independent power producer and service provider with 35 years of expertise in renewable energy. When completed the solar project will serve increasing demand from MISO utilities for low-cost energy resources and growing commitments to renewables by corporations throughout the region.

The transaction marks the third renewable development asset sale between Galehead and EDFR. In total, Galehead has delivered a 520 MWdc pipeline to EDFR spanning the MISO and PJM energy markets and targeting commercial operations beginning between 2023-2024. Each acquisition has paired Galehead’s market strategies and greenfield development scope with EDFR’s power marketing capabilities and capacity for long-term project ownership. Galehead executed on its market strategies by siting projects with its proprietary LandCommand™ software, assembling and achieving site control, conducting feasibility studies and surveys, and securing cost-effective interconnection positions. Following the acquisitions, EDFR will manage all remaining downstream development scope through commercial operations.

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“We are thrilled to build on our track record of successful project sales to EDF Renewables. We look forward to supporting their continued development of the projects and the addition of a half-gigawatt of new renewable resources to the grid by 2025 through this relationship,” said Galehead CEO Matt Marino.

About Galehead:

Galehead Development is a technology, greenfield development, and asset management platform for Impact Infrastructure investments. Since 2016 Galehead has originated and developed a 8 GWdc pipeline of renewable projects either sold to or presently under joint development with third-party IPPs, including 5 GW in MISO and 2 GW in PJM. The company is based in Boston, MA and has 28 full-time employees. Learn more at www.galeheaddev.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210914006090/en/

CONTACT: Patrick Martin, COO

617-681-4SUN

patrick.martin@galeheaddev.com

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY UTILITIES ENVIRONMENT

SOURCE: Galehead Development

Copyright Business Wire 2021.

PUB: 09/14/2021 02:52 PM/DISC: 09/14/2021 02:52 PM

http://www.businesswire.com/news/home/20210914006090/en