French energy company Total has announced a joint venture in the US utility scale solar market with 174 Power Global. Under a 50:50 ownership, they will together develop 12 utility scale solar and energy storage projects in the country that 174 Power will transfer from its development pipeline.
One of the projects from the 1.6 GW capacity is already online with the rest to be energized between 2022 and 2024 in the states of Texas, Nevada, Oregon, Wyoming and Virginia.
Total called it the group's 1st significant step for the group in the US utility scale solar market as it chases its 35 GW renewable production capacity globally by 2025 which at the end of 2020 had gone up to 7 GW out of 12 GW of gross power generation capacity of the group. Its overarching ambition is to go net zero by 2050.
A subsidiary of South Korea's Hanwha Group, 174 Power Global is focused on utility scale and C&I energy markets of North America. It claims to have over 8 GW of solar projects and 10 GWh of energy storage projects in its development pipeline. Last year, one of the largest racking supply contracts was completed with 174 receiving 3.4 GW tracker capacity form NEXTracker (see NEXTracker Completes 3.4 GW Shipment To 174 Power Global).
"We are pleased to partner with Total and see significant opportunities for our JV to expand our solar and energy storage footprint," said 174 Power Global President and CEO, Henry Yun, PhD. "Both 174 Power Global and Total have a strong understanding of one another's business strategies and investment standards."
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