Palladium & Arava sells 364 MW hybrid portfolio to Exus Renewables

Arava Power, US-based solar project developer and Palladium Energy, US-based developer, through its joint venture, has sold a 364 MW solar and 280 MWh storage project portfolio to Exus Renewables North America. The portfolio consists of three mid-stage projects located in the PJM and MISO regions. Arava and Palladium were responsible for originating the projects, securing sites, conducting due diligence, and advancing the assets through early development and interconnection. Exus Renewables, headquartered in Pittsburgh, will manage further development, construction, and asset operations. Palladium develops utility-scale power projects across various US grid systems, while Arava, originally active in Israel, has expanded its solar project activities to the US market.