Energy firm Perennial Power has partnered with CEP Solar in a collaboration that will prioritize solar and battery storage projects, with construction on the 1.5GW portfolio planned for late 2025.
Perennial Power, part of the Sumitomo Group's renewable energy efforts, currently operates five projects with a combined generation capacity of 640MW. It aims to expand this to 1GW by 2030. CEP Solar is a Virginia-based solar and storage developer. It currently has 20 solar projects in development across the state and will use the JV as a vehicle to support the construction and energization of its project portfolio.
"This partnership with Perennial aligns with our core values and will accelerate our ability to deliver a scale-diversified portfolio, which consists of both solar and battery storage projects, providing long-term economic and environmental benefits for our partnering communities, landowners, and customers across the Commonwealth," said Tyson Utt, co-founder of CEP.
