British/Spanish solar developer Padero Solaer Ltd. (trading as PS Renewables), has purchased 49 percent of US-based developer NCRE in North Carolina. The company has recently connected a 2.5 MW project in New Jersey, USA, which has now been given full permission to operate under the US Federal & State Interconnection rules.

According to the company, the purchase of NCRE will enable PS Renewables to create and further enhance its relationship with other financial institutions and interested parties looking for larger solar assets around 100 MW in the USA. As major shareholder, PS Renewables will also become a co-developer on NCRE’s 1.1 GW pipeline. As a result, PS Renewables has already allocated over 135 MW to be co-developed in the USA in the coming six months. NCRE has legally contracted Developer Services Agreements for over 500 MW of projects, as well as over 600 MW of early-stage development sites that will be available for sale in the coming year mainly in North and South Carolina, says PS Renewables. It will continue to operate from its office in North Carolina and develop large-scale solar farms, having just secured a bundle of 2 MW projects totaling 50 MW in South Carolina, with half already pre-allocated.

As reported, PS Renewables recently opened an office in Portsmouth, New Hampshire to service its development business in the North East of the United States (New England) as well as the South East (North and South Carolina, Virginia and Tennessee). The company is a joint venture between Padero Solar Limited (UK) and Solaer (Spain) to develop, design, build and maintain commercial scale solar farms. In the UK, PS Renewables continues to build solar farms.

NCRE is a US-based utility scale solar developer, working with customers under Development Services Agreements. These off-take customers (asset funders and EPCs) have access to over 1.1 GW of potential projects over the coming 24 months.