Amazon secured the 1.2GW Sunstone solar project in Oregon. The company acquired the asset for $83 million from the bankrupt developer Pine Gate Renewables.
The Bankruptcy Court for the Southern District of Texas approved the deal. The acquisition includes 1.2GW of solar PV capacity and an equal 1.2GW of battery energy storage system (BESS) capacity.
This project ranks as one of the largest of its kind in the United States. The purchase significantly boosts Amazon’s renewable energy portfolio as it works toward its climate goals.
The power will specifically support energy-intensive AWS data centers, which are crucial for the company’s cloud computing and AI ambitions. No immediate market reaction analysis was available following the approval.