Acquisition includes development team and significant pipeline of US solar and storage projects
Lincoln Clean Energy (LCE), a subsidiary of Ørsted and a leading developer of U.S. renewables, announced today that it has acquired the development business of Coronal Energy, a developer focused on utility-scale solar and energy storage projects. The acquisition includes its development team of experienced solar and storage personnel, as well as a significant pipeline of solar and storage projects in the United States, including multiple projects that have been awarded long-term power purchase agreements (PPAs) with credit-worthy utility counterparties.
LCE CEO Declan Flanagan said, “I am delighted to welcome the Coronal development team to LCE and the wider Ørsted family. This experienced team complements our U.S. development platform, greatly enhances our presence in solar and storage, and brings important new customer relationships through multiple long-term power purchase agreements both signed and in negotiation.”
“Congratulations to Ørsted, LCE and the Coronal development team for establishing what is one of the most dynamic and experienced renewable teams in the industry,” said Jonathan Jaffrey, founder and CEO of Coronal Energy.
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