The project has a long-term Power Purchase Agreement with Duke Energy Progress, and is capable of producing enough clean electricity to power more than 11,000 homes. In September 2017, Recurrent Energy entered into an agreement for the sale of 99 percent of its Class B membership interest in the project to Falck Renewables S.p.A., with closing expected in November 2017.
”The completion of the IS-42 project is an important milestone in our ongoing commitment to deliver cost-effective solar power to markets across the US” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. “This is Recurrent Energy’s first completed project in North Carolina, and we continue to see great potential in the state.”
Depcom Power provided Engineering, Procurement and Construction for the project and will also deliver Operations and Maintenance services. Of the 275 peak construction jobs created by the project, 95 percent were local hires, and 30 percent were US veterans in keeping with the project’s veteran hiring programme requirements.
A project dedication event is taking place today, October 23, 2017.
Recurrent Energy is a utility-scale solar project developer and is a wholly owned subsidiary of Canadian Solar, Inc. It functions as Canadian Solar’s US project development arm and has more than 4 GW of solar projects in development in the US.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development.
Depcom Power is a partner in utility-scale solar for: Project Development Support, Engineering, Procurement & Construction and Operations & Maintenance services for utilities, independent power producers and project development companies.
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