PureGen Power LLC, a clean energy asset ownership company in Deer Park, said it acquired a solar power plant in Visalia, California -- the first of several planned for the company's inaugural investment fund, PureGen Solar One.
Commissioned in 2009, the Visalia power plant consists of 5,500 solar PV modules ground mounted on a single-axis tracking system with energy provided to the commercial site host.
The transaction took seven weeks to complete.
"A year ago, we embarked on a plan to build a portfolio of operating solar power plants to advance our vision of a clean energy future. This acquisition takes an important step toward realizing that goal," said David Brochu, CEO of PureGen Power. "Our unique model allows us to deliver real value to owners who want to monetize operating plants and reinvest that value into new opportunities."