December 29, 2025
This edition of Projects weekly highlights the CPV Backbone Solar project, a 160 MW facility developed by a subsidiary of Competitive Power Ventures (CPV) that has launched in Maryland. Additionally, BorderPlex Digital Assets plans to build one of the largest renewable energy facilities in New Mexico with the development of the 1 GW Project Green. And in M&A news, Altus Power has purchased a 234 MW portfolio of solar generation and storage assets in 18 states from investment firm Greenbacker, while Solar EPC acquired Moss Ellison Construction to strengthen its presence in Central Florida. Keep reading for all the details.
CPV begins operations at Backbone Solar in Maryland
CPV Renewable Power, a subsidiary of Competitive Power Ventures (CPV), and its strategic investment partner Harrison Street Asset Management (HSAM) launched commercial operations at CPV Backbone Solar, a 160 MW solar project in Garrett County, Maryland. At the same time, CPV secured its third solar equity financing from US Bank. Marathon Capital acted as advisor and highlighted the quality of the project and CPV’s leading role in the development of sustainable utility-scale projects.
“CPV Backbone Solar exemplifies our mission to support a responsible energy transition,” said Sherman Knight, CEO of CPV. “By transforming depleted coal mine land into a productive solar energy facility, we are demonstrating how brownfield redevelopment, innovative engineering and strategic partnerships can address complex project challenges and deliver new energy generation in Maryland.”
CPV Backbone Solar was built by Vanguard Energy Partners, a leading solar engineering, procurement and construction company.
Cool factor: CPV Backbone Solar is located on a reclaimed, decommissioned coal mine. The 324,000 panels at the project site are designed to produce enough energy to power 30,000 homes, repurpose the land and provide the state with the generation it needs.
Development of the project began in 2020. The project also includes investments to improve community and environmental management, including a $100,000 contribution over four years to the Deep Creek Watershed Foundation to help strengthen the long-term vitality of the region’s natural resources.
“At CPV, we look for ways to invest in energy communities where our projects can have the greatest impact. Garrett County has provided us with the necessary criteria to bring CPV Backbone Solar to Western Maryland,” said Mike Resca, EVP of CPV Renewable Power. “This project will add significant tax revenue to Garrett County, and we look forward to being partners for years to come.”
CPV Backbone Solar joins four operational wind and solar projects in the company’s renewable portfolio, in addition to a 4.8 GW development pipeline. Construction has begun on a planned second phase, which is expected to expand the facility’s total installed capacity to 175 MW.
BorderPlex will issue an RFP for up to 1 GW of renewable energy in New Mexico
BorderPlex digital assets has unveiled Project Green, a market process to acquire up to 500 MW of renewable energy generation capacity in southern New Mexico by 2028. In addition, the company plans to scale up to a total of 1 GW of renewable energy generation capacity by 2032 to support economic growth and development in the region.
BorderPlex expects to issue a request for information (RFI) to gather market input from qualified developers and partners by January 16, 2026, followed by a request for proposal (RFP) for selected solutions.
The RFI will be used to assess technical feasibility, development timelines, delivery profiles and commercial structures. RFI feedback will determine the final structure and scope of the subsequent RFP and final solution selection. Interested parties can register via ProjectGreenNM.com to receive updates and access RFI materials as they are released.
Cool factor: Project Green would create one of the largest renewable energy generation infrastructures in New Mexico. Project Green will evaluate solar and other renewable energy sources, including wind, geothermal and hybrid configurations that can support long-term reliability and performance. The project evaluates off-site solutions in solar, wind, geothermal and hybrid technologies capable of delivering large-scale power to the project’s defined delivery point, subject to required permits and approvals. The goal of Project Green is to provide affordable, renewable energy that supports the citizens of New Mexico’s environmental and economic goals.
Project Green is aligned with BorderPlex’s commitments under its Memorandum of Understanding (MOU) with the State of New Mexico, dated February 25, 2025, which considers the development of reliable, low-carbon electricity generation as part of a broader portfolio of energy sources that support critical infrastructure and long-term economic growth. The renewable generation capacity evaluated through Project Green can support a range of potential offtake solutions, including new campus demand, microgrid configurations, and supply to broader market or utility partners.
Altus Power acquires a 234 MW solar + storage portfolio from Greenbacker
Owner and operator of commercial scale solar Altus strength has acquired a 234 MW portfolio of solar energy generation and storage assets from Greenbacker, an energy transition-focused investment manager and independent energy producer. The deal includes more than 100 locations in 18 states. The portfolio includes long-term contracts with a diverse mix of high-quality, investment-grade customers, including a global e-commerce and logistics company, a regional university and major utilities.
“This acquisition demonstrates Altus Power’s ability to transact at scale and deliver reliable, cost-effective energy solutions across the country,” said Abhi Parmar, Chief Investment Officer at Altus Power. “Our disciplined approach and deep operational expertise enable us to serve as a long-term steward of these assets, creating lasting value for our customers, investors and all stakeholders involved.”
Cool factor: With this acquisition, Altus Power now owns and operates more than 1.3 GW of commercial and community solar assets in 30 states and Washington, D.C.
“We are proud of the portfolio we have built and the role these projects play in expanding access to renewable energy,” said Dan de Boer, CEO of Greenbacker. “Partnering with Altus Power was a natural next step. Their scale, experience and long-term commitment to asset management and customer service align well with Greenbacker’s broader strategy to optimize our project fleet through selective sales of non-core assets, while sharpening our focus on high-impact, large-scale clean energy projects.”
The acquisition of moss increases its presence in Central Florida
National solar energy EPC Moss has acquired Tampa-based Ellison Construction. The acquisition brings together two builders with deep roots in Florida.
Known for their craftsmanship, customer trust and impact in Tampa Bay, Moss and Ellison share a strong cultural alignment. The acquisition deepens Moss’ already strong presence in one of the fastest growing regions in the country. Moss focuses on construction management, solar EPC and design-build. In addition to solar and battery storage, the company’s diverse portfolio spans a wide range of sectors, including luxury high-rise residential, wood-frame multifamily, historic mixed-use developments, hospitality, primary and higher education, and sports.
“We are excited to welcome the talented team at Ellison Construction to Moss. Their values and commitment to quality make them a natural fit with the culture and long-term vision that guides our work,” said Scott Moss, CEO of Moss. “This acquisition is about building a stronger, more resilient company, one that can better serve our customers, invest in our people and help shape the future of the Tampa Bay communities where we live and build.”
Cool factor: Ellison Development will continue to operate as a separate entity, while Casey Ellison will remain CEO.
“This was a thoughtful decision about future growth and what best serves our people and customers,” said Cory Ellison, president of Ellison Construction, who will join Moss alongside the broader Ellison Construction team. “We found a partner that values culture, collaboration and community as much as we do. Moss is a respected builder and industry leader, and the alignment between our teams and their long-term vision made this the right path forward.”
Tags: acquisition, Projects Weekly, utility scale
