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Independent power producer Lydian Energy has completed the acquisition of a 1.5GW solar photovoltaic and battery energy storage system portfolio in North America, as reported by PV Tech. The portfolio, known as Atlas North, was purchased from developer Hanwha Renewables and consists of four late-stage projects.
The Atlas North acquisition includes over 1GW of solar PV capacity along with 450MW of battery storage capable of 1,800MWh of energy capacity. All projects are situated within the California Independent System Operator grid and will interconnect via the Cielo Azul Switchyard and the Ten West Link transmission line, utilizing a 500kV generation-tie transmission line.
Lydian Energy, which launched in 2024 and is backed by renewable energy investment firm Excelsior Energy Capital, stated that the majority of the electricity and capacity from the portfolio is under long-term offtake agreements with Californian utilities. The company described Atlas North as its largest investment to date, with its CEO noting the projects will deliver much-needed renewable power to the region.
This acquisition expands Lydian Energy’s overall portfolio, which now includes 18 solar PV and energy storage projects totaling 4.4GW of capacity.
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