November 15 (Renewables Now) - Sumitomo Corporation of Americas (SCOA) and its joint venture partner Estuary Capital Advisors have signed an off-take contract with US utility NV Energy for the larger portion of the output of a 50-MW solar park in Nevada.
The so-called Turquoise Nevada solar plant will be constructed in the Reno Technology Park in Washoe County, SCOA said on Tuesday. Under the 25-year power purchase agreement (PPA), its output will be sold to an unnamed energy customer in Nevada through NV Energy’s NV GreenEnergy Rider programme.
The PPA and the GreenEnergy Rider contract are subject to approval from the Public Utilities Commission of Nevada. Meanwhile, SCOA and Estuary are awaiting clearance for an agreement signed at the end of last year for 10 MW of the output of the Turquoise solar park.
SCOA says it owns 5,000 MW of renewable energy assets globally. The company is the largest subsidiary of Japanese trading firm Sumitomo Corp (TYO:8053).