OAKLAND, Calif.--(BUSINESS WIRE)--Adapture Renewables Inc. announced today the completion of Catan Solar, a 13 megawatt (MW) DC solar project in Runge, Texas. Adapture Renewables Inc. successfully brought the project to commercial operation in December 2020 and sells the electricity in the Electric Reliability Council of Texas (ERCOT) market. This is the first solar project in Karnes County, Texas, one of the top oil-producing counties in the state.
Adapture Renewables financed the construction of the project with in-house capital and will own and operate the project for the long-term. The Catan project demonstrates the company’s ability to leverage its proven track record, deep domain expertise and comprehensive in-house development, EPC management, legal and project finance services to efficiently and effectively drive solar projects to long-term operation.
“The Catan Solar project presented an exciting opportunity for our team,” said David FitzGerald, Director of Project Management at Adapture Renewables. “Being our first project in Texas, our team learned and adapted quickly to the local nuances and procedures in the region and built lasting relationships with local partners to complete the project on time and on budget, while adhering to COVID-19 pandemic best practices. We look forward to leveraging these skills and partnerships for future projects in the area.”
In addition to supplying locally-generated renewable energy for the community, the Catan solar project will generate long-term revenue for the local economy and help reduce energy costs for Karnes County residents.
Texas is expected to see the largest growth of solar energy of any U.S. state this year, accounting for 28 percent of new planned solar capacity, according to a recent report from the U.S. Energy Information Administration. With this project, Adapture Renewables increases its portfolio of solar energy generating assets in Texas to 95 MW DC, and 239 MW DC in total across the country.
About Adapture Renewables, Inc.
Adapture Renewables, Inc. is a solar project developer (and M&A shop), owner and operator. The company leverages its proven track record, deep domain expertise and comprehensive in-house development, EPC management, legal and project finance services to efficiently and effectively drive solar projects from origination to long-term operation. Majority-owned by KIRKBI – the private holding and investment company of the Kirk Kristiansen family founded to build a sustainable future for the LEGO® brand through generations – Adapture Renewables, Inc. has the financial footing necessary to take a diligent and thoughtful approach to solar project development and is invested in its projects’ long-term success. The company’s culture of creative problem-solving and shared mission to accelerate the global transition to clean energy contribute to the company’s success deploying, owning and operating solar assets across ten states in the US. Adapture Renewables, Inc. is based in Oakland, CA. For more information about Adapture Renewables, Inc., visit https://adapturerenewables.com/.
