The PennZone

JACKSONVILLE, Fla., April 17, 2025 ~ Palladium Energy, in partnership with Arava Power Company, has recently announced the sale of a significant solar and storage portfolio to Exus Renewables North America. This Pittsburgh-based renewable energy owner, developer, and asset manager has acquired a 364MW solar plus 280MWh storage portfolio from Palladium, a leading utility-scale power infrastructure developer in the United States.

The portfolio consists of three mid-stage projects located in PJM and MISO, which were originated by Palladium and Arava. The two companies also executed site acquisition, performed diligence and early-stage development, and advanced the projects in their respective interconnection queues. Now, Exus will take over the development, construction, and asset management of these projects.

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According to Palladium CEO Danny Weidlich, the company is thrilled to have sold these projects to a reputable asset manager like Exus. He believes that this transaction is a testament to the quality of their projects and the expertise of their execution team. Weidlich also expressed gratitude towards their partner Arava for enabling the development and sale of these projects.

Arava CEO Ilan Zidkony also shared his pride in the successful sale of these projects to Exus. He commended the excellent work done by both companies in developing these projects and selling them to a top-tier player like Exus. Zidkony also highlighted how this marks another milestone for Arava's expansion into the US renewables market.

The transaction was facilitated by KeyBanc Capital Markets, who served as the exclusive financial advisor for this deal. With this sale, Palladium and Arava have solidified their presence in key markets such as PJM, MISO, SERC, ERCOT, and WECC while establishing themselves as major players in the US renewables space.

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