ReneSola secures PPA for California solar-storage project
Solar modules. Featured Image: Jackiso/Shutterstock.com
Solar project developer ReneSola Ltd (NYSE:SOL) has clinched a power purchase agreement (PPA) for the output of a 20-MW solar project in California that will be coupled with 6.5 MW/26 MWh of battery storage.
The output of the complex will be bought by Northern California-based electricity provider Valley Clean Energy, ReneSola said on Wednesday. The term of the contract is 20 years.
The solar-storage plant will be located in Madison, in California’s Yolo County, and is due to become operational by the third quarter of 2022. Its integrated battery facility will provide four hours of energy storage capacity.
The PPA with VCE, which serves more than 125,000 customers in the cities of Woodland and Davis and unincorporated communities in Yolo County, is ReneSola’s first long-term power off-take deal for a solar-plus-storage system, noted Yumin Liu, CEO of ReneSola Power. The contract was awarded through a request for offer (RFO) round held by VCE.
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.