SPI Solar to supply EPC services for up to 300MW of KDC Solar projects

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

SPI Solar and LDK Solar, its majority shareholder, have signed an agreement to become the primary engineering, procurement and construction (EPC) and operations and maintenance (O&M) service provider for KDC Solar’s project pipeline in New Jersey and New York. The three-year contract will see the two firms collaborate on a number of projects, which could be as little as 150MW or as much as 300MW.

The Preferred Provider Agreement, believed to be worth up to US$750 million, follows on from last December’s announcement that SPI would help build KDC’s 5MW project at a White Rose Foods facility in Carteret, New Jersey. It will also enable KDC to more than double the capacity of its solar portfolio in the region, which currently stands at 150MW and generate US$600 million for SPI.

KDC’s CEO, Hal Kamine, said, “SPI’s reputation for designing and building low-cost, high quality commercial solar energy facilities for businesses across the nation, coupled with LDK’s high quality solar panels, will benefit New Jersey and New York. We focus on “behind the meter” projects of 2MWs and larger that supply long term, inexpensive solar electricity to businesses and institutions, which, in turn, bring a significantly reduced cost-of-operation to our customers.

“Our goal is to supply 100% of our customer’s electric needs from our facilities. The bottom line is that we lower a significant cost to do business for our customers through clean solar power, which preserves and creates jobs.”

KDC Solar already has around 18MW of systems under construction, supported by an equity injection of US$225 million from Diamond Castle Holdings, a New York-based private equity fund with more than US$1.8 billion of committed capital under management.

“This agreement is a perfect blend of talent, skill sets and opportunity. It highlights the benefits available to SPI as a result of our recent transaction with LDK,” added Stephen Kircher, CEO of SPI. “Our alliance with LDK now allows SPI to take on multiple projects of greater scope and scale. Additionally, we are pursuing many other large-scale projects that should continue to accelerate our pipeline and revenue into the next few years.”

“Our investment in SPI as a downstream development company is proving successful for both of our companies and those we work with as well,” said Xiaofeng Peng, LDK’s chairman and CEO. “We look forward to expanding our distribution throughout North America and assisting in job retention and new job creation with every new solar energy facility SPI develops.”

22 September 2021
To commemorate the World Energy Storage Day(WESD) on 22 September, being recognized worldwide, Customized Energy Solutions (CES) and India Energy Storage Alliance (IESA) is organising the 5th global conference and virtual expo, which will be held virtually on 22 September 2021. WESD is a global movement initiated by various apex trade bodies working to promote and adopt energy storage, e-mobility & green hydrogen technologies for a sustainable future. The forthcoming edition of WESD is expected to attract global participation with an intent to facilitate bi-lateral trade, market development and new research and innovation, which will invite 100+ countries, 100+ regulators & policy makers, 100+ International speakers,1000+ organisations, 100+ partners & exhibitors and 20,000+ global delegates.
28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
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.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 16, 2021
Vistra Energy has welcomed the enactment of clean energy policies in Illinois which the power generation company said will support 300MW of solar and 150MW of battery storage to be built at nine of its coal plant sites. 
September 16, 2021
Renewables developer Amp Energy has secured financing for a 120MW solar installation in the Australian state of New South Wales that is expected to begin energisation in early 2022.
September 16, 2021
As much as 191GW of new solar PV is expected to be installed this year – up by a third on last year’s deployment figure – despite polysilicon and module prices remaining high into 2022, BloombergNEF has said.
September 16, 2021
Australia’s government has committed AU$19.2 million (US$14 million) to implement the recommendations of a new report that that aims to improve regulation and compliance in the country’s rooftop solar sector.
September 16, 2021
Energy engineering firm Babcock & Wilcox is to enter the US solar market through the acquisition of a majority stake in Illinois-based solar contractor Fosler Construction.
September 16, 2021
North American module manufacturer Silfab Solar has received an investment led by private equity firm ARC Financial Corp to help scale up its US PV production footprint.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021