Oct 10, 2014 - Singapore-based REC Solar ASA (OSL:RECSOL) said yesterday it will deliver 220 MW of photovoltaic (PV) panels to US firm SolarCity Corp (NASDAQ:SCTY) under an amended deal that previously called for the supply of at least 100 MW.
As announced in June, SolarCity agreed to buy between 100 MW and 240 MW of REC’s Peak Energy solar panels within a year starting from the fourth quarter of 2014. As per the amended contract, the equipment will be sold at a fixed price, with deliveries scheduled to start at the end of the July-September quarter of 2014 and conclude near the end of 2015.
REC’s Peak Energy panels are compatible with SolarCity’s Zep Solar mounting systems and will be installed across the US firm’s 15-state service territory.
REC Solar has so far been awarded deals to supply 385 MW of PV equipment to the US residential, commercial and utility markets. About 313 MW of the total will be shipped next year. This summer, the Singaporean company also clinched a deal to supply up to 100 MW of PV panels to US home solar system installer Sunrun Inc.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.