RAI Energy has hired a banker to sell 100% of its equity interests in a portfolio of over 3 GW of solar and storage assets in four states in the western U.S.
Scotiabank has been retained as the sellside advisor to run the process, which is nicknamed Project Warriors, according to sources familiar with the situation.
RAI and Scotia did not respond to requests for comment.
The company had been exploring electrolyzer co-location opportunities to produce green hydrogen and ammonia at some of its sites, RAI CEO Mohammed Alrai said in previous interviews with ReSource.
The largest of the projects for sale is Wildcat, a 1,000 MW (DC) solar plus 800 MW (AC) storage project in Southern California. Also for sale is Roadrunner, a 625 MW solar plus 500 MW storage project in Colorado; Novo Lobos, a 94 MW solar and 75 MW BESS project in Arizona; and Big River, a 94 MW solar and 75 MW BESS project in Washington.
The projects are expected to achieve notices to proceed (NTPs) in 2026, and are in varying stages of negotiations for offtake.
