Alterra Power acquires 20 MW solar portfolio from Inovateus Solar

Alterra Power enters into an agreement with Inovateus Solar to acquire an 80% ownership interest in a two-project 20 MWDC portfolio of solar farms in the Midwestern United States.

Both the solar projects are contracted under long-term, investment-grade power purchase agreements. Alterra is actively developing and arranging finance for its first project, a 7 MWDC solar project is located in Indiana is expected to complete construction by the end of 2016. Second project of 13 MWDC, which is located in Michigan, is expected to be developed during 2017.

“We’re pleased to develop these solar projects alongside Inovateus, and hope to extend this partnership to other U.S. projects,” said Jon Schintler, Alterra’s VP of Project Finance.

“The pairing of Alterra’s technical and financing resources with Inovateus’ project development and EPC expertise provides a compelling solar offering for utilities, municipalities, universities, and businesses in the Midwest and beyond,” said TJ Kanczuzewski, president of Inovateus. “We’re excited to get started on our first two projects and look forward to working together with Alterra on more projects in the future.”