News & Events
Marathon Capital Advises BayWa r.e. on Sale of Texas Solar and Storage Projects to Eni New Energy US
March 07, 2022
March 07, 2022
Mergers and Acquisitions
Marathon Capital, LLC (“Marathon Capital”) is pleased to announce the sale of BayWa r.e.’s Texas-based 266 MWdc/200 MWac Corazon I Solar operating power plant and the 200 MW/400 MWh Guajillo storage development project to Eni New Energy US Inc (“Eni gas e luce - Plenitude”). Marathon Capital acted as the exclusive financial advisor to BayWa r.e. The transaction demonstrates Marathon Capital’s continued leadership in utility-scale renewables and energy storage.
Corazon I is one of the largest solar projects in Texas reducing nearly 250kt of CO2 emissions annually and produces more than 500 GWh each year. This provides enough electricity to power more than 38,000 households. The Guajillo storage project is expected to reach an operational stage before the end of 2023, and it will support the grid by storing energy and delivering it during periods of peak consumption.
“It was a pleasure to work with BayWa r.e. and Eni gas e luce - Plenitude on the sale of these two high-quality ERCOT projects. This transaction signifies BayWa r.e.’s track record in developing, financing, constructing, and operating leading renewable projects and Eni gas e luce - Plenitude’s commitment to its ambitious energy transition goals.” – Ari Pribadi, Senior Managing Director & Head of Chicago Office, Marathon Capital.
“At BayWa r.e., we’re committed to advancing utility-scale renewables and energy storage, and in this journey, it is critical to work with forward-looking organizations that also share our commitment to a clean energy future. We appreciate Marathon Capital’s expertise and support during the sale of Corazon I and Guajillo assets to Eni gas e luce - Plenitude.” said Bill Gulley, Chief Financial Officer of BayWa r.e. Solar Projects LLC.
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About BayWa r.e.
At BayWa r.e. we r.e. think energy -- how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet. We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business. BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey. Our shareholders are BayWa AG, a $19.6 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. BayWa r.e. Solar Projects LLC is a leading utility-scale solar developer in North America. For more information, visit https://us.baywa-re.com/en/solar/
