30 June 2021
On 17 December 2021, the Savion business was sold to Shell New Energies US LLC. You can read more about that on the Savion website. GIG continues to invest in accelerating the transition through other projects and platforms in the US.
solar and energy storage development pipeline
current projects in development or construction
US states with Savion projects in various stages
Savion operates as a portfolio company of GIG, deploying its deep local expertise and strong development capabilities to build a leading solar and energy storage development platform in the US.
Across the US, the corporate renewable energy market is booming, as corporates increasingly adopt power purchase agreements (PPAs) to procure reliable and cost-effective renewable energy over the long term. In 2019, the Americas region signed PPAs totaling an unprecedented 15.7 GW of clean energy1. The US accounted for the bulk of that at 13.6 GW, surpassing all global PPA activity in 20181.
Our in-house team of finance experts structure tailored PPA solutions around the world to match client needs, from a variety of sectors, all with unique energy goals. To date, we’ve supported 23 corporates with their transition, including structuring one of the worlds longest PPAs, as well as one of the world’s largest. Savion’s acquisition bolsters GIG’s successful track record in PPAs across the US market.
Head of GIG, Americas
The acquisition secured an additional development pipeline of utility-solar and storage projects, and when combined with GIG’s global scale and capital capabilities, it set the stage for Savion’s continued growth across the country.
The addition of Savion to GIG’s leading renewables platform has helped to form a solar and storage strategy geared at US corporates and utilities, providing reliable and cost-competitive renewable power from newly developed solar projects through PPAs. With GIG’s international reach, strong investment pipeline and global procurement capabilities, Savion is well-positioned to operate at the core of America’s fast-growing renewable energy PPA market.
President of Savion
Most recently, Savion signed a 20 MW PPA with Dominion Energy Virginia for the Westmoreland County Solar Project. The $US 30 million solar facility is one of three projects developed by Savion that is expected to be constructed in Virginia within the next year, resulting in 115 MW of solar power and a total investment of approximately $US 150 million.
In June 2021, Savion sold the Wood County and Richland County Solar Projects to Alliant Energy. The combined solar energy installation will produce 200 MW of electricity, enough to power approximately 55,000 Wisconsin homes.
Savion now has a pipeline of over 11 GW of solar and energy storage developments and continues to build on its commitment to transform America’s electricity supply to renewable resources alongside GIG, which is accelerating America’s green transition every day.
Keep up to date with Savion's latest projects and information here.