Exus Acquires 715 MW Solar Portfolio in Louisiana and Wisconsin to Power Data Centers

U.S. power developer Exus Renewables North America has acquired a portfolio of four large-scale solar projects in Louisiana and Wisconsin from ibV Energy Partners, totaling 715 megawatts (MW) of capacity. The acquisition is aimed directly at meeting the soaring electricity demand from the rapid development of data centers in these regions, Exus CEO Jim Spencer told Reuters.

Strategic Acquisition Details

The deal nearly doubles Exus's operational portfolio and positions the company to capitalize on the critical need for new power generation. Exus will construct and operate the solar plants, which were developed by ibV Energy. Financial terms of the transaction were not disclosed.

The acquired projects include:

• Maple Grove Solar 1 and 2: A two-phase, 310 MW project in Barron County, Wisconsin.
• Bayou Chicot Solar: A 280 MW project in Evangeline Parish, Louisiana.
• Bayou Teche Solar: A 125 MW project in St. Mary Parish, Louisiana.

Targeting the Data Center Power Crunch

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Louisiana and Wisconsin are experiencing rapid growth in data center construction, creating a power demand that is outpacing the capacity of many utilities and grid operators. Exus is already in discussions with potential customers, including Big Tech hyperscalers and utilities serving data center loads, to secure electricity purchase agreements.

"If renewable energy is available for data centers, it will be contracted," Spencer said, telling Reuters he expects to finalize offtake agreements within four to six weeks. The 715 MW capacity from the new projects is enough to power more than half a million homes.

The Premium on 'Ready-to-Build' Assets

The projects were particularly attractive because they are well-developed and can be connected to the grid relatively quickly, a significant advantage in a market plagued by interconnection delays. Chris McKissack, CEO of ibV Energy Partners, noted that his firm began the complex process of securing grid connections with the Midcontinent Independent System Operator (MISO) about five years ago.

This advanced stage of development gives the assets a significant market advantage. "Projects that are ready to build, projects that are well developed... are the ones that will trade at a premium and get built," McKissack said.