Also on the rise: Burns & Mac completes work on a 50 MW solar project for CenterPoint Energy, Fourth Wave to spin off its GeoSolar Tech unit, and Sunwealth secures financing for its LMI solar expansion.
May 20, 2021
Maxeon Solar Technologies said it will supply around 1 GW of its bifacial Performance 5 UPP solar panels for the $1 billion Gemini solar plus storage power plant project near Las Vegas, Nevada. The project is being built and will be owned and operated by Primergy Solar.
The agreement calls for nearly 1.8 million modules to be supplied over a four-quarter period starting in the second quarter of 2022; project completion is planned by the end of 2023.
The Gemini Project is a 690 MWac solar photovoltaic plus a 380 MW/1,400 MWh battery energy storage project.
The Gemini project will be one of the largest operational solar power system in the U.S. when completed. It is expected to provide a foundation to support the start-up and initial operation of Maxeon’s new Performance line module capacity for the U.S. solar power market. Using large-format G12 mono-PERC solar cells manufactured in Malaysia, and module assembly in Mexicali, Mexico, this project is expected to take a significant portion of the expected output of Maxeon’s new capacity during the first year of operation.
Burns & Mac completes Indiana project
EPC firm Burns & McDonnell said it recently completed construction of CenterPoint Energy’s 50 MW utility-scale solar project near the Ohio River in southern Indiana.
The Troy Solar power plant uses First Solar 440-W thin-film photovoltaic modules and consists of approximately 150,000 solar panels distributed across 300 acres. Modules are mounted on a NEXTracker single-axis tracker enabling the modules to track with the sun to maximize energy generation.
Burns & McDonnell was hired after the project’s first engineer-procure-construct (EPC) contractor exited the market. The company provided engineering, detailed electrical, civil and structural design, procurement specifications, and construction execution services.
GeoSolar spin off
Fourth Wave Energy said that GeoSolar Technologies filed a registration statement with the Securities and Exchange Commission in connection with the spin-off of GST from Fourth Wave. Following the spin-off, GST and Fourth Wave will be two separate and independent public companies.
As part of the spin-off agreement, GST received all commercial rights to the GeoSolar Plus technology and patents in exchange for the issuance of around one share of GST common stock for each outstanding common share of Fourth Wave.
The GeoSolar Plus system is designed to reduce energy consumption and associated greenhouse gas emissions in residences and commercial buildings. It is made up of a number of components including solar/PV and geothermal and is designed to produce more energy than it produces with no carbon.
Sunwealth secures financing
Clean energy investment firm Sunwealth announced a $2.9 million loan from Calvert Impact Capital. Sunwealth said it will use the financing, together with $4.3 million in tax equity investment from private investors, to support 18 solar projects on the rooftops and parking lots of nonprofit organizations, multi-family apartment buildings, houses of worship, and commercial office buildings in communities underserved by traditional renewable energy financing.
The community-based solar projects will generate enough electricity to power over 300 homes annually, and will provide customers with $3.8 million in lifetime energy savings. The loan will also help catalyze additional investment in Sunwealth’s solar financing model.
Sunwealth supports solar projects ranging in size from 5 kW to 1 MW on building rooftops and parking lots. It partners with local solar developers and installers to design and construct these projects, which deliver solar access and long-term energy savings to building owners and to low- and moderate-income households through community shared solar agreements..
One of projects is a 37 kW installation on the roof of a multifamily apartment building owned by Fifth Avenue Committee, a nonprofit community development corporation in Brooklyn, New York. Installed by Brooklyn-based Solar Energy Systems, the system will provide building tenants with $240 in annual energy savings.
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