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TerraForm Power Announces Acquisition of 1.56 GW Solar Project from Hexagon Energy in Lee County, Illinois

Written by Customer Service on . Posted in Mergers And Acquisitions.

Project ranks among the largest solar projects in the United States

NEW YORK and CHARLOTTESVILLE, Va., Feb. 02, 2026 (GLOBE NEWSWIRE) — TerraForm Power (TerraForm), an affiliate of Brookfield Asset Management and a leading renewable energy company in North America, today announced the acquisition of Steward Creek Solar, a 1.56 gigawatt (GW) solar project under development in Lee County, Illinois, from Hexagon Energy (Hexagon), the project’s original developer.

Steward Creek Solar is among the largest solar PV projects in the United States. The acquisition expands TerraForm’s pre-construction pipeline of solar and battery storage projects to nearly 7 GW, primarily located in PJM and SERC.

“This landmark project highlights our ability to deliver renewable energy at scale during a period of unprecedented power demand and grid constraints,” said Mark Noyes, Chief Executive Officer of TerraForm Power. “Steward Creek Solar demonstrates the growing role renewables will play in meeting the nation’s long-term energy needs.”

The project recently reached a major milestone with the execution of a 600 MW interconnection agreement between TerraForm, Commonwealth Edison, and PJM Interconnection.

“Steward Creek is a flagship project for Hexagon, and we sought a partner with the expertise and capability to bring one of the country’s largest solar projects to successful completion,” said Matt Hanztmon, Chief Executive Officer of Hexagon Energy. “The TerraForm Power team brings deep experience and a strong track record, and we are excited to see the project move forward.”

The project will be developed in two phases, each expected to generate approximately 1.3 GWh of energy annually once operational. Phase 1 is expected to begin construction in 2027 and reach commercial operation in 2029, with Phase 2 commencing construction in 2028 and achieving commercial operation in 2030.

About TerraForm Power

TerraForm Power, a controlled affiliate of Brookfield Asset Management, is a leading owner, operator and producer of renewable energy in North America. The company’s portfolio contains 2,600 MW of utility-scale wind, solar, and battery storage facilities with operations in 16 U.S. states and Ontario, Canada. TerraForm Power’s high-quality diversified assets generate significant organic cash flow, and support repowering, co-location and hybridization opportunities within its broad existing footprint, as well as greenfield development. The company has a high-quality, approximately 7,000 MW renewable development pipeline and is well positioned to meet surging electricity demand. For more information, please visit: terraform.com.

About Hexagon Energy

Hexagon Energy, based in Charlottesville, Virginia, is a purpose-built clean energy developer with a proven track record of utility-scale wind, solar, standalone storage, and geothermal development. Hexagon covers the full spectrum of development and finance including market analysis, environmental diligence, site control, transmission analysis, community engagement, state and local permitting, engineering, and financial modeling. Since its founding, Hexagon has developed and sold over 2.5 GWs of projects. Learn more at hexagon-energy.com.

Contact for Investors/Media:

TerraForm Power
enquiries@brookfieldrenewable.com

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