ContourGlobal acquires 446MWp solar PV portfolio in US
The British company that produces electricity has purchased a 446 MW of Blood Photovolta (PV) portfolio in the United States, expanding its renewable energy area.
The portfolio purchased from QCELLS includes two solar stations in Colorado and Virginia by adding ContourGlobal’s planned US Solar FV and Bess capacity to 1.5 GW.
This increases more than 1 GWk, recently purchased projects in South Carolina and Arizona, which are currently under development.
Colorado assets, the total capacity of which are already 324 MW, while the Virginia project, which is 122 MW, is scheduled to start in 2026.
This achievement expands ContourGlobal Renewable Energy Operations in Western Electricity Coordinating Council (WECC) and Pennsylvania-New Jersey-Maryland (PJM).
This extension offers regional diversification and uses rising areas of electricity, reduction of heat reduction and carbon extraction targets.
Colorado projects will supply electricity to Platte River Power Authority with a long-term electricity purchase contract (PPA).
The first stage is expected to operate in the first half of 2025, where 22 years PPA will operate. The second round will increase 139 MW capacity by 2026.
The Virginia project, which is scheduled to start in 2027, will benefit from 20-year PPA, owned by utility services.
It is envisaged that these stations will produce more than 845 GWh per year, which is enough for about 80,000 American household energy supplies.
Antonio Camiskra, Executive Director of ContourGlobal, said: “This transaction allows us to maintain our renewable US growth rate with a capacity of about 1.2 GWk, which is supplemented by an additional 0.3 GWs of Bess, construction or late processing.
“It simply came to our notice then. We are proud of this important event and we are glad that our cooperation with QCells will also enable us to integrate blood technologies produced in the United States. “
QCELLS will control the construction of projects that will use solar panels that are produced in their enterprises in Georgia. QCELLS has one of the largest capacity of solar batteries in the Western Hemisphere, which is expected to increase by 8.4 GWh, according to the company.
CRC-IB served as an exceptional purchase consultant of ContourGlobal, while Marathon Capital was the exclusive QCELLS financial adviser for this transaction.
QCELLS GES President IP: Kimside. “We are proud to support the US expansion of ContourGlobal. This transaction displays differentiated QCELLS opportunities as “General Energy Solutions” to bring projects to operation. We are excited to study other opportunities where a complete package of QCells capabilities can give value to colleagues such as ContourGlobal. “
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