7X Energy sells 130-MW Texas solar project to KOMIPO

Jun 9, 2021 08:04 PM ET
  • United States solar programmer 7X Energy Inc claimed today it has actually sold its 130-MW Elara solar project in Texas to KOMIPO America Inc, a subsidiary of Korea Midland Power Co Ltd
7X Energy sells 130-MW Texas solar project to KOMIPO
Image: renewablesnow.com

Situated in Frio County, the solar park is currently incomplete and is because of come to be fully operational in the 4th quarter of 2021. Morgan Stanley Renewables Inc is expected to be the sole tax equity capitalist for the project.

The scheme is underpinned by 3 lasting offtake contracts. 7X Energy stated that, as formerly announced, 30-MW of Elara's energy as well as ecological attributes will certainly be sold to EDF Energy Solutions. There is a long-lasting bush agreement with Morgan Stanley Capital Group Inc for 100 MW of energy as well as a 100-MW renewable resource certification (REC) purchase arrangement with Fathom Energy LLC.

7X Energy head of state and president Clay Butler stated that with Elara, the business has actually stemmed greater than 2,100 MW direct current (DC) of solar projects either in operation or unfinished.

According to the statement, this is the initial Texas solar project implemented by a Korean federal government possessed power firm. "We are committed to expanding our renewables portfolio in the UNITED STATE to remain to lead and also promote the growth engine of the worldwide renewable energy market," stated KOMIPO president Hobin Kim.

The design, purchase and construction (EPC) professional is Swinerton Renewable and also a Swinerton subsidiary will certainly look after the project's operations as well as maintenance. The solar farm functions Nextracker parts, Power Electronics Freesun HEM inverters as well as greater than 435,000 modules provided by JinkoSolar Holding Co Ltd.