PROJECT ROUND-UP: Canadian Solar’s utility-scale storage retrofit, Bangladesh giant connects to the grid

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The 73MW project in Bangladesh connected earlier this month. Image: Huawei.

A round-up of the latest news from the solar project development and finance sub-sectors, including news from Canadian Solar, Capital Dynamics and Huawei. 


Canadian Solar signs up for 75MW/300MWh solar-storage retrofit

19 October: Canadian Solar has signed a contract to provide a 75MW/300MWh lithium-ion battery storage solution to be retrofitted onto an existing solar farm in California.

Under the deal, signed with Goldman Sachs Renewable Power, the vertically integrated solar manufacturer and developer will retrofit the storage facility for the 100MWac Mustang solar plant, based in King’s County, California.

The project was developed by Recurrent Energy, Canadian’s wholly owned project development subsidiary, and connected to the grid in August 2016. It was sold on to Goldman Sachs in May of last year.

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Bangladesh’s largest PV project connects to the grid

20 October: Bangladesh’s largest utility-scale solar project has connected to the country’s national grid.

The 73MW project, located in Mymensingh, was successfully connected to the grid in early October and will make a significant contribution to the country’s aim of deriving 10% of its power from renewables by 2021 – requiring more than 3.1GW of renewables to come onstream.

The project has been developed using string inverters provided by Huawei. The manufacturer’s SUN2000-185KTL inverters, featuring IP66 high-level protection and anti-PID technologies were specifically chosen to maintain high yields despite Bangladesh’s humid climate.

“Bangladesh is a new market for us however we have seen great momentum in the past year… We look forward to continuing to bring our latest innovations and green energy to the local market and helping the region to accelerate its energy digitalisation and transformation,” Bruce Li, director of Asia Pacific digital power business at Huawei, said.


Capital Dynamics, Sol Systems JV lands second tranche of tax equity commitment funding

19 October: A joint venture between asset management firm Capital Dynamics and Sol Systems has secured Distributed Tax Equity Commitments from the Bank of America for a pipeline of solar projects.

The JV, dubbed Sol Customer Solutions, has secured a second tranche of funding, succeeding a first tranche of funding which was clinched earlier this year to support 20 projects at various stages of development, totalling around 30MWdc.

The second tranche of funding under the tax equity commitment was secured last month and will seed four further projects, including three new projects for Walmart to be completed in California.

The full tax equity commitment is structured to continue beyond this year, with the aim of supporting up to 76MWdc of projects by the end of 2021.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

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