Cordelio Power Acquires 150 MW Solar Development Project in Missouri
Toronto, Ontario (December 15, 2020):
Cordelio Power (“Cordelio”) is pleased to announce the acquisition of a 150 MW solar project (“Winfield”) under development in Lincoln County, Missouri.
Cordelio acquired the Winfield project from a joint venture between Dakota Power Partners, LLC (“Dakota”) and MAP Energy (“MAP”), the original developers of the project. Dakota will initially provide transition development services for the project, with Cordelio ultimately managing the project’s development as part of its growth efforts in the Midwest.
“We’re excited to be working in Missouri to help the state, its utilities, and its constituents meet their clean energy goals, while making a positive impact on local communities,” said Nick Karambelas, Cordelio’s Chief Commercial Officer. “We’re also pleased to grow our relationship with Dakota and MAP, and we look forward to working further with them.”
“We’re pleased to be working with Cordelio as they grow their renewable energy portfolio,” said Jay Schoenberger, Dakota’s Co-Founder and Principal. “Under Cordelio’s stewardship, Winfield Solar will produce cost-effective zero-emissions power, create jobs, and deliver major economic benefits to the local community.”
“Businesses and consumers now increasingly demand non-polluting sources of electricity for their operations and homes. Dakota’s solar development portfolio was carefully designed to deliver utility-scale solutions that will accelerate electricity sector decarbonization while lowering future electricity bills,” added Aaron Zubaty, Managing Partner of MAP.
About Cordelio Power Inc.
Cordelio is a renewable power producer managing 1,000+ MW of renewable generation assets across North America, including 396 MW of wind and solar projects in Ontario plus a 656 MW (net) wind and solar portfolio stake owned by Canada Pension Plan Investment Board (“CPP Investments”). Cordelio also owns (wholly and through a joint venture) a growth pipeline of 2,500 MW of wind, solar and storage projects in the western and midwestern US. Cordelio carries out its operations and growth activities by working with all stakeholders in an efficient, safe and environmentally responsible manner. Cordelio is wholly owned by CPP Investments.
About Dakota Power Partners, LLC
Led by energy industry veterans, Dakota Power Partners works closely with local communities, landowners, and utilities to develop large-scale clean energy projects. Our projects produce low-cost clean energy, benefit host communities, and create 21st century American jobs. The Dakota Power Partners team has more than 90 years of combined experience in the energy industry and has collectively developed more than 3,500 MW of operating and in-construction wind and solar projects around the US, representing an aggregate capital investment in rural communities in excess of $4.3 billion. More information is available at dakotapp.com.
About MAP® Energy, LLC
MAP® Energy has been an innovating and leading investor in renewable energy projects since 2005 and has directly funded the development of more than 15,000 MW of operating or under-construction wind and solar generating capacity located across the United States. More information is available at www.map-energy.com.
Forward Looking Statements & Information
Certain information contained in this news release constitutes forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward‐looking statements. Forward‐looking statements typically contain words such as "anticipate", "believe", “confirm”, "continuous", "estimate", "expect", "may", "plan", "project", "should", "will", or similar words suggesting future outcomes, and include, without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward-looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the outcomes of such events to differ from Cordelio’s expectation as of the date hereof. Whether forward-looking statements ultimately prove to be accurate will depend on factors outside of the control of Cordelio. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward-looking statements. Forward-looking statements contained in this news release are made as at the date of this news release and Cordelio disclaims any intent or obligation to update or to revise any forward-looking statements contained herein.