ROUND-UP: Recurrent Energy sells 20MW project, ESCO reaches financial close on 173MW pipeline

ESCO Pacific reaches financial close on 173MW pipeline in Australia

ESCO Pacific and Elliott Advisers have reached financial close on both the 98MW Susan River Solar Farm and 75MW Childers Solar Farm — both located in South East Queensland, Australia.

Affiliates of Elliott will own 100% of the projects, while also being prepared to fund the projects through to connection entirely with equity.

Construction on the two projects will now begin and both sites will be completed within nine months. The solar farms are located in Bundaberg Regional Council (Childers) and Fraser Coast Regional Council (Susan River). Construction and O&M services will be carried out by Biosar Energy.

Recurrent Energy finalises sale of 20MW PV facility in California

Recurrent Energy, a wholly owned subsidiary of Canadian Solar, has finalised the sale of the 20MW Gaskell West 1 Solar Facility in California to Southern Power.

The project, located in Kern County, California, is expected to reach commercial operation in spring of 2018 and has a long-term power purchase agreement with Southern California Edison. The project represents Southern Power and Recurrent Energy's fourth transaction.

Southern California Edison will purchase the electricity and associated renewable energy credits (RECs) generated by the facility under a 20-year power purchase agreement and will have the option to keep or sell the associated RECs.

The 20MW facility is currently under construction and is expected to create 200 peak jobs during the construction phase.

Azure Power to power 152 schools in India with rooftop PV project

Indian independent solar power producer (IPP) Azure Power has won an 11.35MW rooftop PV project that will be spread across 152 schools and six states, including Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka, Chhattisgarh and Kerala.

Azure Power will sign the power purchase agreement with Navodaya Vidyalaya Samiti — an autonomous body under the Ministry of Human Resource Development with the Government of India.

Inderpreet Wadhwa, founder, chairman and CEO of Azure Power, said: “Azure Power offers tremendous value to its customers within the solar rooftop category across various segments. Azure Roof Power helps lower the energy costs of its customers and meet their greenhouse gas emission reduction targets.

“In addition, it provides roof owners with an assured stream of cash flows through lease rentals or revenue share. Our long history of superior solar power operations across various rooftop customer segments have helped us win this project. In 2013, we built India’s first MW scale rooftop project in Gandhinagar under the smart city initiative, while recently, we have worked on electrifying various educational institutes."

Tags: us, usa, india, azure power, southern company, recurrent energy, esco pacific, australia