16.02.2015: US-based solar company Coronal Group LLC has acquired the majority of the assets of US renewable energy project developer HelioSage Energy, including the company’s extensive North American project pipeline. The HelioSage acquisition includes 300 MW of near-term solar projects and more than 1.5 GW of projects in development. The financial terms of the agreement were not disclosed. The HelioSage assets, including its project pipeline, will be integrated into the newly formed company Coronal Development Services LLC (CDS), which will provide solar development solutions for commercial and utility clients in North America. Together with Panasonic Eco Solutions, a division of Panasonic Corp. of America, Coronal already owns and operates a portfolio of solar facilities in North America totalling nearly 100 MW. The Coronal-Panasonic partnership will provide CDS with expertise in EPC, project finance and asset management to enable the new company to effectively develop HelioSage's portfolio. Focused primarily on power purchase agreements with utilities, over the last 3 years, HelioSage has executed more than 400 MW of agreements with companies including Duke Energy, Georgia Power Co. and the Tennessee Valley Authority. HelioSage also served as the exclusive solar consultant and transaction advisor for one of the nation's largest investor owned utilities from 2012-2014, participating in the origination, due diligence and acquisition of 230+ MW on their behalf. © PHOTON http://www.coronalmanagement.com http://www.prnewswire.com/news-releases/coronal-group-acquires-heliosa
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