PivotGen, a renewable energy development and repowering company, through UPC Power Solutions LLC, a partnership with ACEN Corporation (ACEN), has signed a purchase and sale agreement with affiliates of Glidepath Power Solutions LLC, a developer and owner of advanced energy systems, for the acquisition of a portfolio of eight operating wind projects in northern Texas.
This is the first acquisition for the repowering strategic partnership among PivotGen, ACEN (through ACEN USA LLC) and UPC Solar and Wind that was announced in April 2022. Together, PivotGen and ACEN seek to improve the efficiency and extend the lives of operating wind projects by acquiring them and then repairing, upgrading and/or repowering existing machinery.
“We are excited to announce this acquisition,” says Tim Rosenzweig, CEO and co-founder of PivotGen. “We look forward to successfully repowering the portfolio so that these projects can continue to deliver clean, renewable power and provide jobs and economic opportunity in the local communities.”
The sale will be subject to regulatory approvals, including from the Federal Energy Regulatory Commission.