Thursday, July 18, 2024

Summit Ridge Energy Expands Partnership with Qcells, Commits to Buy 800 MW of Photo voltaic Panels

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Summit Ridge Energy introduced the enlargement of its partnership with Qcells, agreeing to buy 800 MW of photo voltaic panels to energy group photo voltaic initiatives throughout the United States. This settlement builds on a earlier 1.2 GW dedication between the 2 corporations, which was first introduced in April 2023 in an announcement by Vice President Kamala Harris, marking it as the most important tools buy for the market in group photo voltaic at the moment.

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With the extra complete dedication now reaching 2 GW, Summit Ridge Energy plans to develop greater than 100 extra group photo voltaic initiatives utilizing photo voltaic panels manufactured within the United States by Qcells.

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Last yr, Qcells made headlines with a historic $2.5 billion funding to construct a complete photo voltaic provide chain within the US, turning into the primary firm to attain a totally built-in the nation’s silicon-based photo voltaic provide chain. This funding goals to make sure that Qcells’ photo voltaic panels, from polysilicon to completed merchandise, are fully manufactured within the US.

The enlargement of Qcells manufacturing capabilities within the US is in keeping with incentives beneath the Inflation Reduction Act (IRA), which incorporates tax advantages for home power manufacturing and manufacturing. Summit Ridge Energy’s photo voltaic initiatives are eligible for IRA tax credit, enhancing entry to wash power storage for 1000’s of low-income households.

Brian Dunn, Chief Operating Officer of Summit Ridge Energy, expressed pleasure concerning the expanded partnership: “We are excited to broaden our partnership with Qcells, which can allow Summit Ridge to ship domestically generated clear power to extra Americans. This collaboration helps home manufacturing, job creation, and supplies inexpensive clear power options to communities traditionally underserved by the clear power transition.

Summit Ridge Energy’s portfolio of group photo voltaic farms is anticipated to generate sufficient clear power to energy roughly 200,000 houses and companies. Since its inception in 2017, the corporate has invested over $2.6 billion in clear power property and oversees a growth pipeline of greater than 3 GW, geared toward increasing solar energy accessibility throughout the nation.

Justin Lee, CEO of Qcells, highlighted the broader affect of the partnership: “Expanding our relationship with Summit Ridge Energy means extra communities will profit from inexpensive and sustainable power options. This partnership not solely helps the expansion of home manufacturing and photo voltaic jobs but in addition ensures equal entry to the advantages of a clear power economic system.

The majority of the photo voltaic panels bought by Summit Ridge will likely be manufactured at Qcells’ new US facility in Georgia. In addition, Qcells will proceed to produce battery storage and software program options to Summit Ridge beneath varied agreements.

This partnership underscores the dedication of each corporations to advance clear power initiatives and help financial development by way of sustainable practices within the photo voltaic power sector.



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