Blue Earth executed a Membership Interest Purchase Agreement between its wholly-owned holding company, Blue Earth Oregon Solar LLC, and the project company owned by Pacific Northwest Solar, LLC ("PNS") based in Portland, OR. The membership interests of the project company were 100% owned by PNS.
Construction of the project is scheduled to begin in early Q1 of 2016 with an expected COD date in late Q3 of 2016. The offtaker is Idaho Power Company.
"We look forward to continuing to work on finalizing the acquisition of the remaining 44MWp across five projects from Pacific Northwest Solar," added Ruben Fontes, President of Blue Earth Solar. "This project, along with several others on which our team is currently performing due diligence, represents a commitment to developing, acquiring and/or building renewable energy assets in this region."
