Solar Alliance, a renewable energy solutions provider focused on residential, commercial and industrial solar installations, announced this Monday it will launch a partnership with Abundant Solar Power; to pursue opportunities on the U.S. market.
Firstly, the partnership will particularly focus on the southeast region of the U.S. Also, the platform intends to leverage from Solar Alliance’s regional design; engineering, and construction expertise, combined with Abundant’s financial and large project development experience.
Secondly, through that platform, the partnership will pursue opportunities for the development of turnkey solutions to utilities; as well as for project development. Such projects would range in size from 1 megawatt to 10 MW and larger; and will typically involve competitive bids to local and regional utilities.
Thirdly, according to the agreement, the partnership will focus on the regions where Solar Alliance is responsible for utility communication and relationship management; also, design and engineering, materials procurement, and construction.
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Solar Alliance to purchase two projects from Abundant
While Abundant will be responsible for identifying and securing sources of tax equity and non-recourse project debt; project design oversight based on their proven track record of building large solar projects; and also, bid pricing intelligence.
Moreover, the agreement builds on the strong relationship between the parties; in fact, Solar Alliance announced back in May and June, that it was going to purchase two construction ready projects from Abundant. The 350 and 389 kilowatt projects are both have already power purchase agreements, that will provide a recurring revenue stream to Solar Alliance.
As for the relevance of the partnership, Solar Alliance CEO Myke Clark, said. “There are significant utility-scale solar opportunities in the U.S. Southeast; this partnership will provide a strong, proven platform to put forward competitive bids. This platform also, clearly elevates us into a very competitive position in one of the fastest growing solar markets in the United States today.”
Finally, Abundant CEO Richard Lu, commented. “Solar Alliance has a strong presence in the U.S. Southeast; we are pleased to bring our large-scale project development and also finance experience to this partnership. Our two companies have developed a strong relationship and this agreement also allows us to provide a strong turnkey solar solution to utilities; that are making the switch to renewable energy.”
