Lincoln Clean Energy (LCE), a subsidiary of Ørsted and a leading developer of U.S. renewables, 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 strong creditworthy utility counterparties.
Declan Flanagan, CEO at Lincoln Clean Energy, says:
“I am delighted to welcome the Coronal team to LCE and the wider Ørsted family. The highly experienced Coronal Energy development team compliments our U.S. development platform, greatly enhances our presence in solar and storage, and importantly brings new customer relationships through multiple long-term power purchase agreements both signed and in negotiation.”
Jonathan Jaffrey, Founder and CEO of Coronal Energy, says:
“Congratulations to Ørsted, LCE and the Coronal development team for establishing what has to be recognized immediately as one of the most dynamic and experienced renewable teams in the industry.”