The River Fork solar project has a 20-year PPA for 100 MW with Consumers Energy and a 25-year PPA for 49 MW with DTE Energy.
More than $200 million in equipment will be sold as Tesla plans to ramp up and expand operations at a Buffalo manufacturing facility.
PPA prices have been rising steadily since the end of last year and, according to solar developers, interconnection delays, permitting challenges, and supply chain constraints are likely to keep them high.
Also on the rise: REV Renewables gains a South Korean investor, Distributed Solar buys a community solar portfolio, and researchers investigate LID triggers in solar cells.
The deal will include a $300 million to $400 million investment to support REV’s portfolio of renewable power and energy storage projects.
Six of the projects are set to be constructed in New York, while another three will be in Maryland.
The patent pertains to its Bi-Directional Optimizer for Storage Systems, which was part of a 2020 study with Duke Energy about retrofitting standalone solar plants with storage.
The 50:50 joint venture with Norway-based FREYR could result in factories with an initial production capacity of 50 GWh per year by 2030.
The projects, which are expected to be completed in 2022 and 2023, will serve local school districts, municipalities, hospitals, and businesses
Leaders from across the solar industry came together at Solar & Energy Storage Southeast 2021 in Atlanta to discuss efforts to diversify the workforce and break down traditional barriers.
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