Houston-based Buckeye Partners LP has invested further in its energy transition plans with the acquisition of a solar project.
The deal has Buckeye taking possession of a project to build a solar farm from Dallas-based Belltown Power Texas LLC for an undisclosed price.
“Buckeye is focused on being an integral part of the next phase of the energy evolution, and investments like this – along with several other recently announced strategic investments in critical renewable and low-carbon opportunities – demonstrate our commitment to responsibly serving our customers’ needs while reinforcing our business’ long-term resiliency,” said Buckeye President and CEO Clark C. Smith.
Located on 1,164 acres approximately 90 miles south of Dallas, the advanced solar development project – with site control and an interconnection agreement complete – is designed for 180 megawatts of planned capacity. Buckeye intends to start project construction later this year with the goal of bringing the development online by December 2022.
“Texas continues to be at the fore of the energy transition, and we are proud of our team’s work on this important project, which is in good hands with Buckeye Partners," said Belltown President Lloyd Pope. "Belltown is excited to see this project and others like it, mature to create meaningful benefits and contribute to the lower-carbon shift that is evolving with increasing momentum,” he added.
This project will bring additional solar generation capacity to Buckeye’s existing renewable energy portfolio and in combination with other recent strategic renewable generation and hydrogen-related investments, will contribute to further diversifying the company’s revenue sources and positioning Buckeye to meaningfully participate in the energy transition.
“This is an exciting time for Buckeye as we build on our long history of demonstrated leadership as a midstream logistics provider to evolve into a more diversified energy company, " said Smith.
