Solar Power (SPI), a PV project developer, is partnering with Aqua lean Energy (ACE) to build floating PV projects in California, Arizona, Texas and New Mexico.
ACE and SPI will co-develop the floating PV plants that will equal an estimated combined size of more than 50MW. They will do this by creating a joint venture holding company, Aqua Clean Energy Fund.
The companies will utilise a floating solar platform made of recyclable materials that allows PV panels to be installed on bodies of water, such as reservoirs, quarry lakes, irrigation canals or remediation and tailing ponds. The companies hope it will have little environmental impact and will reduce water evaporation.
Xiaofenge Peng, chairman of SPI stated: “Large-scale floating PV systems have increasingly shown their effectiveness in various settings…This technology not only generates clean solar energy, but also serves to conserve water in critically dry regions like Southwestern US and California…”