The portfolio includes the Highland North, Twin Ridges, and Patton wind farms, totalling 244MW, acquired from Vitol, and the 62MW Cambria wind farm, acquired from Oppidum Green Energy.
Three of the wind farms are set to undergo repowerings from 2024-2027. Vitol will provide the tax equity financing for the wind repowerings. This strategic acquisition aligns with Exus' accelerated evolution from asset manager to renewable independent power producer (IPP), following its recent acquisition of New Mexico Renewable Development LLC (comprising a 15-project, 625MW solar portfolio) from PNM Resources and American Electric Power.
"Pennsylvania's natural wind resource coupled with a growing demand for renewables in the state make it an ideal location for us to further our ambitions of advancing highly productive renewable energy solutions in North America," said Jim Spencer, President & CEO, Exus North America.
"This acquisition underscores our dedication to intelligently expanding our renewables footprint, while continuing our commercial transition to an established independent power producer in the region."
R. Andrew de Pass, Head of Renewable and Sustainable Investments at Vitol Inc. said, "Vitol is pleased to sell its equity interests in Twin Ridges, Highland North, and Patton to Exus, a highly experienced wind developer and operator. The repowering of these projects will increase capacity by 25%. Our tax equity financing of this repowering underscores Vitol's commitment to investing in the energy transition."
