Redeux Energy Announces Sale of Utility-Scale, Solar and Storage Development Project to Scout Clean Energy

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Oct 16, 2024, 07:00 ET

The 200 MWdc solar and 160 MWh storage project is sited adjacent to the DB Wilson Coal-fired Power Plant in Western Kentucky

DENVER, Oct. 16, 2024 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, today announced the sale of a hybrid solar and battery storage development project to Scout Clean Energy (Scout). Scout is a Colorado-based renewable energy developer-owner-operator and is a portfolio company of Brookfield Asset Management, a global leader of renewable power and decarbonization solutions. The project, consisting of a 200 MWdc solar array and a 40MW, four-hour battery energy storage array, is advancing through MISO's 2021 DPP interconnection cluster.

"The ideation of this project was part of the inception of Redeux, and we couldn't be more excited to now have Scout Clean Energy advance it through the later stages of development, financing and construction," said Rob Masinter, Chief Executive Officer of Redeux Energy.

The project will interconnect to a MISO transmission switchyard adjacent to an operating 400MW coal-fired power plant. Over the course of its operating life, the project will create significant employment, tax, and economic impact benefits for Ohio County.

"Scout is excited to make this excellent addition to our growing development pipeline," said Michael Rucker, Chief Executive Officer and Founder at Scout. "Redeux Energy has thoughtfully developed this site to date, and we are looking forward to transforming this great foundation into a high-performing solar and battery storage project that will bring significant benefits to Ohio County."

"Redeux was built to originate and deliver world-class renewable energy projects to industry-leading partners," said Aaron Bowlds, Managing Director of Thoroughbred, the company's founding sponsor. "This sale perfectly aligns with that vision. We're incredibly proud of the amazing team that is Redeux Energy and are excited to continue our support as Redeux delivers gigawatts of renewable energy projects annually."

Marathon Capital advised Redeux on this second sale from within an 11-project portfolio brought to market in late 2023. Redeux has a current project pipeline totaling approximately 7 GW and 7 GWh of solar and storage capacity spanning the ERCOT, MISO, SERC, and WECC energy markets and is planning to bring another project portfolio to market in Q1 2025.

"It has been a privilege to support Redeux in advancing its strategic objectives as a leading developer in the utility-scale and energy storage markets. Scout is well-positioned to acquire this development project and deliver impactful results that benefit both the industry and the local community," said Sarah Nash, Director, Marathon Capital.

About Redeux Energy
Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, mined and industrial lands into renewable power infrastructure that produces new revenue streams and addresses local needs for economic and workforce development. Redeux is powered by exceptional people and processes. Redeux is backed by Cathexis Holdings - a Houston-based, multi-billion dollar, single-member family office with active investments across industries including real estate, infrastructure, and energy. Thoroughbred Holdings, a Redeux investor and co-founder, is a Denver-based private investment firm with investments in infrastructure, agriculture, energy, and natural resources. Founded in 2021, Redeux is headquartered in Denver, Colorado. Learn more at www.redeuxenergy.com

About Scout Clean Energy
Scout Clean Energy is a leading renewable energy developer-owner-operator headquartered in Boulder, Colorado responsible for the development of approximately 1,400 MW of operating and under construction renewable energy assets in the US, 800 MW of which the company owns and operates. Helmed by renewable energy leaders, Scout is currently developing a pipeline of approximately 19,000 MW of wind, solar and storage projects across 23 states, including more than 2,100 MW of advanced-stage projects. Scout is a portfolio company managed by Brookfield Asset Management, which acquired Scout in 2022. For more information, please visit www.scoutcleanenergy.com

About Marathon Capital
Marathon Capital is the largest independent investment bank dedicated to servicing the clean economy. The firm is a leading global financial adviser across M&A, equity capital markets, debt capital markets, tax credits, offtake, and energy transition. Marathon Capital is headquartered in Chicago, with offices in New York, Houston, San Francisco, San Diego, London, and Calgary with local presence in Madrid and Seoul. www.marathoncapital.com

CONTACT: Megan Hanson, [email protected]

SOURCE Redeux Energy