Advertisement
Advertisement
advertisement

Canadian Solar Subsidiary Recurrent Energy Announces Commercial Operation of Two Solar Photovoltaic Projects in California

Canadian Solar Inc. (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, announced that its wholly owned subsidiary Recurrent Energy has reached commercial operation of the adjacent 100 MWac/131 MWp Astoria and 75 MWac/100 MWp Astoria 2 solar projects located in Kern County, California.

"With the help of our trusted partners, the Astoria projects will power more than 40,000 homes with clean energy," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. "These projects, which began operating in late 2016, are part of Recurrent Energy's milestone 1.2 GW 2016 project portfolio."

GE Energy Financial Services, a unit of GE, provided a tax equity investment for both projects. Financing for the Astoria project was announced in November 2015. A financing announcement for the Astoria 2 facility followed in January 2016. Both projects employ GE's state-of-the-art solar inverter technology.

"It has been a pleasure to work with Recurrent Energy on the Astoria projects and see them through commercial operation. As we continue to invest over $1 billion annually in the U.S. renewable energy market, well-developed assets such as the Astoria projects are critical to our success," said Kevin Walsh, managing director and head of Renewables at GE Energy Financial Services. 

Pacific Gas and Electric Company will buy electricity and associated renewable energy credits (RECs) generated by the Astoria project under a long-term power purchase agreement (PPA). Electricity and associated RECs from the Astoria 2 project will be purchased by the Southern California Public Power Authority and four of its members (Cities of Azusa, Banning, Colton and Vernon), the Power and Water Resources Pooling Authority, and the Cities of Corona, Lodi, Moreno Valley and Rancho Cucamonga. 

 

About Recurrent Energy

Recurrent Energy, a U.S. subsidiary of Canadian Solar Inc., is redefining what it means to be a mainstream clean energy company, with utility-scale solar plants that provide competitive clean electricity. The company has more than 4 GW of solar projects in development in the United States.  

About Canadian Solar Inc.

Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 17 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006.

Advertisement
Advertisement

UPCOMING EVENTS

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter TurbineTech, Smart Wind, Wind O&M, Offshore Wind, Storage + Wind Energy And More At 9th Edition Of IWEF - https://t.co/43FtKInVsP
Tuesday, 15 October 2019 10:13
SolarQuarter Guwahati, North East India Here We Come! - https://t.co/WqsZwi8LWG
Saturday, 12 October 2019 11:13
SolarQuarter REAnalytics India 2019 Participating Companies| 120+ Attendees Confirmed| Last Call - https://t.co/fRpr0L3Mzi
Thursday, 10 October 2019 06:59