by ENERGY REV
CEP Renewables is progressing with its European development activities, with an initial set of projects out of its pipeline forecast to reach ready-to-build by the end of 2023.
The New Jersey, US-headquartered group has to date been active across North America, but opted to expand into Europe.
Since launching the new division, it has built up a circa 650MW pipeline of solar PV assets across the region, with just over half of the pipeline located in Italy and the remainder spread across Poland and Romania.
The group is developing up to seven circa 10MWp plants in Poland and is aiming to bring a first project to RTB later this year, with the remainder to follow by mid-2024.
In Italy, meanwhile, the group has to date secured grid access for around 200MW of its 350MW pipeline, with several of its solar sites located on industrial land, and is also expected to bring a first project to RTB in the country before the end of the year.
CEP is understood to be considering a financial partnership for part of its pipeline when its projects reach a late stage of development or RTB, but it will also look to raise project finance for another part of its portfolio with the aim of retaining ownership once assets are commissioned.