Maxeon Solar secures 400 MW module order from Origis Energy; SolarEdge plans to offer 2 million shares proceeds from which may be used for acquisitions; QTS Realty Trust has entered a 20-year PPA with Georgia Power for 350 MW solar; Sol-REIT & Source Renewables to finance over 100 MW community solar for disadvantaged communities in US.
400 MW order for Maxeon Solar: Maxeon Solar Technologies has landed another US order for its solar panels, this time from Origis Energy. Under the agreement, it will supply its high efficiency G12 wafer based shingled bifacial Performance line panels for Origis’ utility scale projects, starting from June 2023 and conclude at the end of the year. Recently, Cypress Creek Renewables placed an order with Maxeon for 315 MW of the same module series (see CCR Order For 315 MW Bifacial Panels).
SolarEdge planning public offering: NASDAQ listed SolarEdge Technologies plans to offer 2 million shares of its common stock as a proposed public offering. Net proceeds are planned to be deployed for acquisitions and other generate corporate purposes. However, it specified that currently it does not have agreements or commitments for any acquisitions.
QTS to source solar power from Georgia Power: Data center company QTS Realty Trust has signed up to source nearly 350 MW solar power from Georgia Power under a 20-year power purchase agreement (PPA) which will be effective in 2024. Power generated from this capacity will be added to the grid supporting its Atlanta-Metro and Suwanee Georgia data center campuses. QTS which is a Blackstone portfolio company, will buy the electricity at a fixed rate under the utility’s Customer Renewable Supply Procurement (CRSP) tariff. Through CRSP, Georgia Power offers clean energy from up to 1 GW of renewable sources (all solar) for subscription by new and existing commercial and industrial (C&I) campuses.
Community solar partnership: A solar investment vehicle Sol-REIT, LLC and solar project developer Source Renewables have entered an exclusive partnership to finance more than 100 MW community solar power capacity in Northeastern US. It will enable access to solar for disadvantaged and underserved communities. Sol-REIT will provide capital to Source Renewables for construction and long-term financing of solar projects in their pipeline. “This partnership disrupts a highly fragmented solar finance market that has traditionally disadvantaged and discouraged middle-market developers due to inequitable and typically inefficient access to capital,” stated the duo.