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Pegasus takes over partner in USD-3bn solar-powered data centre project

Solar power station. Featured Image: worradirek/Shutterstock.com

July 17 (Renewables Now) - US renewables-focused technology infrastructure company Pegasus Group Holdings has taken over Plus Minus Power, its partner in a USD-3-billion (EUR 2.67bn) solar-powered data centre project in Arizona.

Plus Minus Power constructs and owns micro grids for storage solutions and energy efficiencies to meet power demand. Pegasus, in turn, owns and operates hyperscale data centre ecosystems that run on renewable energy. The company said that it plans to provide renewable energy “for a myriad of new and creative projects around the globe.”

Together, Pegasus and Plus Minus Power announced last month they are working on a 340-MW off-grid solar field called The Hive that will occupy 717 acres just south of Kingman in Arizona. This solar farm will power an onsite data centre that should come online this autumn.

Pegasus’ acquisition of Plus Minus Power resulted in Dan Briggs, president and CEO of Plus Minus Power, taking on the additional position of president and CEO of Pegasus Group Holdings. According to Alberto Ramirez, partner and Pegasus board member, the transaction will bolster the services offered by the group and improve its complete renewable energy solutions approach.

(USD 1.0 = EUR 0.892)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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