GSI acquires 1.4GW Saturn Power US solar-storage projects

April 17, 2023

Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has acquired the solar and battery development portfolios of Saturn Power, including a 1.4GW pipeline of early to late-stage solar and energy storage projects in five US states and two Canadian provinces.

The acquired pipeline includes 72 solar projects, 90 per cent community solar projects, and six battery storage projects. GSI plans to direct $200 million of capital investment to bolster its North American operations, including building the acquired pipeline in the coming years.

The deal expands GSI’s footprint from seven to 12 US states, which will now include New York, Massachusetts, Vermont, Florida, Minnesota, Michigan, Colorado, Illinois, New Mexico, Pennsylvania, Virginia, and Washington, as well as Alberta and Saskatchewan in Canada.