Skip to main content

Market Overview

Blue Earth Announces LOI to Purchase Interests in the 57.1MWp Oregon Solar Portfolio

Share:

Blue Earth, Inc. (NASDAQ: BBLU), an alternative/renewable power generation solutions company, announced today that BE Solar, Inc., its wholly owned subsidiary, entered into a Letter of Intent ("LOI") to purchase all of the membership interests in six separate Special Purpose Entities, comprising the 57.1MWp Oregon solar portfolio, from Pacific Northwest Solar, LLC ("PNS") based in Portland, OR. The membership interests of the six Project Companies are 100% owned by PNS.

Although this transaction is subject to several closing conditions, the initial due diligence has been completed.

"We are delighted to have the opportunity to acquire these projects which, upon closing, is expected to be an excellent complement of domestic projects, as we continue to build our solar pipeline," stated G. Robert Powell, CEO of Blue Earth, Inc. "We expect to continue to add quality projects in solar and co-generation as we move forward with our focus on power generation."

Construction of the projects is scheduled to begin in early Q1 of 2016 with an expected COD date in late Q3 of 2016. The offtaker is Idaho Power Company.

"We look forward to continuing to be very active in the Northwest," added Ruben Fontes, President of Blue Earth Solar. "This portfolio represents another important step toward solidifying our presence in this region."

 

Related Articles (BBLU)

View Comments and Join the Discussion!

Posted-In: News Press Releases

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com