French multinational vitality firm Total has partnered with photo voltaic and vitality storage challenge developer 174 Power Global to develop 12 utility-scale photo voltaic and vitality storage initiatives within the US.
The two firms have signed an settlement to type a 50/50 three way partnership to develop as much as 1.6GW of photo voltaic and vitality storage capability.
The initiatives will likely be deployed between 2020 and 2024 in Texas, Nevada, Oregon, Wyoming and Virginia.
The three way partnership builds on a powerful partnership that mixes 174 Power Global’s intensive photo voltaic challenge improvement expertise within the US with Total’s decade-long worldwide experience within the improvement of photo voltaic initiatives.
174 Power Global is wholly owned by Hanwha Group affiliate.
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Julien Pouget, Director Renewables of Total, mentioned: “This transaction is a primary important step for Total within the US utility-scale photo voltaic market, consistent with our 2025 ambition to realize 35GW of renewables manufacturing capability worldwide. I’m assured that this may pave the way in which to extra alternatives within the US renewables and storage market.
“I’m more than happy to increase our long-standing cooperation with the Hanwha Group into renewable energies and efficiently contribute to the event of solar energy era within the US.”
174 Power Global President and CEO, Henry Yun, mentioned: “We are happy to accomplice with Total and see important alternatives for our JV to develop our photo voltaic and vitality storage footprint.
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“Both 174 Power Global and Total have a powerful understanding of each other’s enterprise methods and funding requirements. This is a good partnership, and we’re excited to work with the Total staff and additional our joint dedication to scrub renewable vitality and low-carbon investments.”
The submit Total companions on 12 utility-scale storage initiatives within the US appeared first on Power Engineering International.