JUWI, a Wörrstadt-based developer of renewable energy projects, has sold two solar projects to the Tri-State energy provider in Colorado. The “Axial Basin Solar” and “Dolores Canyon Solar” projects add 327 megawatts (DC) of capacity to Tri-State’s portfolio. The state of Colorado is also making rapid progress in the field of renewable energies, as demonstrated by theFiera Infrastructure and Palisade Infrastructure initiative.
Strategic Projects in Colorado
Axial Basin Solar, with a capacity of 186MW, is located in Moffat County, while 141MW Dolores Canyon Solar is in Dolores County. These projects, located around 250 and 400 miles from Denver respectively, illustrate Tri-State’s expansion into renewable energies.
Carsten Bovenschen, CEO of JUWI, says: “These projects demonstrate our expertise and ability to develop large-scale projects.”
First acquisition of Renewable Projects by Tri-State
The sale of these projects represents a first for Tri-State Generation and Transmission Association, a non-profit cooperative. Tri-State has acquired these solar projects to strengthen its energy portfolio and serve its member cooperatives, marking a significant step forward in its energy strategy.
Duane Highley, CEO of Tri-State, emphasizes: “Our members now benefit from a competitive source of solar energy thanks to this transaction with JUWI.”
Financial and Legal Contexts
The acquisition of these projects comes on the heels of the passage of the Inflation Reduction Act (IRA) of 2022, allowing non-profit electric cooperatives to benefit from federal renewable energy tax credits. This legislation facilitates direct investment in renewable resources, a major asset for Tri-State.
Senator Michael Bennet, who supported the legislation, says, “This breakthrough will enable Tri-State to provide significant benefits to the rural communities it serves.”
Additional projects and future prospects
In addition to the acquired projects, Tri-State has added three other solar projects to its portfolio, including the 179MW “Spanish Peaks” solar farm, currently under construction by JUWI in southern Colorado. Eventually, Tri-State will supply 680MW of solar power to its members, meeting the equivalent energy needs of nearly 200,000 homes.
The managers of JUWI and Tri-State emphasize the shared values of safety, quality and collaboration with local communities in carrying out these projects. Stephan Hansen, COO of JUWI, concludes: “These projects demonstrate our development competence and our unique position in the Colorado market.”
The sale of JUWI’s solar projects to Tri-State represents a major strategic milestone. These new capacities will strengthen Tri-State’s position in the renewable energy market, while generating significant economic benefits for local communities.
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