US solar and electric mobility infrastructure firm iSun Inc (NASDAQ:ISUN) said on Wednesday it has been selected by Fusion Renewable to construct a portfolio of 448 MW direct current (DC) of solar projects across three locations in Alabama.
The work secured includes turnkey professional, development, and engineering, procurement and construction (EPC) services. The development and professional services contract, worth USD 7 million (EUR 6m), starts immediately, while notice to proceed on the first EPC project is anticipated in 2022.
Fusion Renewable structured the projects, which will be owned by a joint venture between Israeli public companies. The Altmayer Limited Partnership is an active development partner.
iSun said this is its second foray into the utility-scale solar EPC market after the acquisition of the intellectual property of Oakwood Construction Services Inc earlier this year.
“Our acquisition of Oakwood construction in April of this year, and the launch of iSun Utility marked our initial entry into both the Utility scale sector and the professional and development services marketplace,” commented chief executive Jeffrey Peck. The company has since secured contracts for over USD 8.25 million in development and professional services fees and has been awarded EPC rights for almost 566 MW DC of projects, representing potential future revenues of over USD 500 million, the CEO added.
In June, iSun said it had been tasked by Fusion Renewables with providing turnkey development and EPC services subject to competitive tendering for a 118-MWp solar portfolio spanning eight sites in North and South Carolina.
(USD 1 = EUR 0.852)
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