ContourGlobal enters U.S. market with acquisition of PV projects in South Carolina

After this initial acquisition of 151 MW, the European independent power producer plans to build a portfolio of up to 2 GW in the U.S. by 2030.

October 4, 2024 Michael Puttré

ContourGlobal is revamping 35 solar projects across Italy such as this one outside of Rome.

Image: ContourGlobal

ContourGlobal (CG), an independent power producer based in Italy, has acquired two solar PV projects in South Carolina with a combined capacity of 151 MW. The projects, sold by Virginia-based Sun Tribe Development, are expected to achieve commercial operation in 2029. The value of the deal was not disclosed.

At peak capacity, the two solar PV plants are expected to produce over 272,000 MWh per year year and provide enough electricity to power almost 26,000 U.S. households.

The transaction marks the entry of CG into the U.S. renewables market. Globally, the company has a portfolio of about 400 MW. This includes the revamping and repowering of 35 PV of its 71 plants in Italy that will have a combined final operating capacity of 114 MW, PV plants in Romania and Slovakia with a combined capacity of 42 MW, and a concentrated solar power facility in Spain with a capacity of 250 MW. The company says it is seeking additional projects throughout the European Union.

Hans Isern, CG’s senior vice president of business development for North America, told pv magazine USA that the South Carolina deal with Sun Tribe was supported by a combination of economic conditions, incentives for renewable energy and favorable grid conditions.

“The projects will still undergo final project engineering, and ContourGlobal is setting up in-house engineering capabilities to serve its global growth ambitions in renewables, and ensure standardized engineering and construction approaches,” Isern said. “Our current PV projects in Italy are being revamped with bi-facial panels mounted on single-axis trackers.”

ContourGlobal is standardizing on bifacial modules on single-axis trackers.
*Image: ContourGlobal*

Isern notes that the Southeastern U.S., particularly South Carolina, is experiencing significant load growth and a need for reliable energy sources. He said the 2029 timeline for commercial operation of the Sun Tribe projects reflects the planning and scheduling required for such large-scale plants, and accounts for regulatory processes and other activities within the broader transmission grid.

These projects do have power purchase agreements with local off-takers. However, CG will also seek to take advantage of global energy management and trading opportunities for engaging with utilities, traders and corporate customers.

Isern said the resolution of off-taker agreements, grid interconnection decisions and other regulatory aspects played a significant role in CG’s decision to work with Sun Tribe on the South Carolina projects as they ensure a smoother path to operation and reduce investment risks. He added that local communities have also shown willingness to support such projects, which is crucial for moving them forward in a responsible manner.

The company’s goals in the United States will focus on solar, wind, storage and low-emissions power generation technologies. Isern said CG intends to have a portfolio of 1.5 to 2 GW of installed renewable capacity in the country by 2030.

“As we grow strategically across the U.S., ContourGlobal is committed to developing a pipeline of socially and environmentally responsible projects that align with our growth ambitions and create long-term sustainable value,” Isern said.

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