ContourGlobal Scales up U.S. Renewables Presence With Acquisition of 446 MWp Solar PV Portfolio From Qcells
Summary
MILAN & DENVER--(BUSINESS WIRE)--ContourGlobal and Qcells have announced a strategic transaction for a U.S. solar PV portfolio located in Colorado and Virginia with an installed capacity of 446 MWp. The first phase of the project, currently under construction in Northern Colorado, is a 185 MWp plant with commercial operation start estimated for the first half of 2025, and benefitting from a 22-year PPA. The Virgina 122 MWp project, is expected to start construction in 2026 and enter commercial operation in 2027, benefitting from a 20-year PPA with an investment grade investor-owned utility. The agreement provides that Qcells will be responsible for the construction of the projects, which will include solar panels produced by the company at their Dalton and Cartersville facilities in Georgia. ContourGlobal has gross pipeline of about 4.5 GW of development projects and a track record of 20 years of experience in partnering with communities, institutions and customers that benefit from its power supply through long-term contracts or innovative PPAs, coupled with energy management solutions.