Renewable energy project developer BQ Energy (BQE) has been purchased by US-based clean energy investment platform CleanCapital for an undisclosed amount. In accordance with the agreement, CleanCapital has acquired a 100 per cent ownership stake in BQE. The company intends to support BQE’s pipeline of solar projects and to build on underutilised and polluted land.

The acquisition comes after CleanCapital’s February 2021 purchase of a 65.3 MW solar portfolio from BR Group Holdings. With a combined capacity of more than 300 MW, 200 projects from 24 US states have been acquired and managed by CleanCapital so far.

BQE, a New York-based company, has a pipeline of 1 GW projects, including 700 MW of mid-stage development solar projects and 300 MW of late-stage development solar capacity. The company provides a wide range of projects, such as utility-scale solar assets on landfills and abandoned industrial sites, community solar assets, commercial and industrial assets. 

REGlobal’s Views: This large acquisition by CleanCapital will help the company to significantly expand its market share in the solar power space.