Ares Acquires 80% Stake in 384 MW U.S. Solar and Battery Portfolio from EDPR

Type: Acquisition · Technology: Solar, Storage · Country: United States · Capacity: 384 MW · Announced: 2026-09-23

Alternative asset management firm Ares has acquired an 80% stake in a 384 MW solar and battery storage portfolio located in California from renewable energy infrastructure developer EDP Renewables. The transaction values the assets at approximately $0.8 billion at the start of operations. The portfolio includes 200 MW of solar capacity and 184 MW of battery energy storage. The solar capacity is secured by a 20-year Power Purchase Agreement, while the storage capacity has a 20-year Capacity Tolling Agreement. This acquisition was made through an Ares Infrastructure Equity fund.

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