CPV Will Acquire Operating Wind Portfolio from Patriot Renewables

SILVER SPRING, MD (April 6, 2023)– Competitive Power Ventures (CPV) announced today that it has closed on the acquisition of four operating wind farms in Maine from Patriot Renewables (Patriot) and other project owners. The acquisition adds 81.5 MW to CPV’s existing renewable portfolio and will contribute to the company’s mission to provide environmentally responsible power as both the region and the nation accelerate efforts to lower the carbon footprint of the electric sector.  The deal was announced earlier this year and has recently received regulatory approval.

“The acquisition of these four projects is a step forward for CPV as we continue to grow our renewable operating portfolio.  The projects contribute meaningfully to the supply of clean reliable energy in New England and to our municipal utility customers,” said Sean Finnerty, EVP of Mergers & Acquisitions and Renewable Energy for CPV. “We look forward to working to ensure the continued safe operation of the wind projects.”

The acquired projects are Canton Mountain Wind (22.8 MW), Saddleback Ridge Wind (34.2 MW), Spruce Mountain Wind (20 MW) and Beaver Ridge Wind (4.5 MW).  The projects supply renewable energy to multiple municipal utilities across New England.

“These Maine wind projects were early successes for renewable energy in New England, demonstrating that clean power was possible in the region,” said Trevor Childs, Principal and Co-founder of Patriot Renewables. “We look forward to supporting CPV with ongoing windfarm operations and reinvesting in sustainable technologies and developments.”

The acquisition raises CPV operating and in construction wind and solar portfolio to 8 projects totaling over 630 MW and over 3,000 MW of wind, solar and storage projects in active development across key markets in the United States.