US-headquartered Hybrid Cell Technology (HCT) module producer Sunpreme has signed a Master Supply Agreement (MSA) with True Green Capital Management for Commercial & Industrial (C&I) PV Projects in the US, totalling 150MW, over a three year term.
The deal is thought to be the largest so far for the company and is expected to catapult Sunpreme into the major league for bifacial module shipments.
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TGC was said to have recently commissioned a 16.5 MW roof top project for the Los Angeles Department of Water and Power (LADWP) of which 10 MW was delivered by Sunpreme.
Panos Ninios, TGC's Managing Partner said, “Following over three years of very positive product and customer service experience, we are now glad to raise our relationship with Sunpreme to a significantly higher level. We expect that Sunpreme will expand its production capacity, ideally with a US based manufacturing facility that creates new US high paying jobs in the solar business, while providing our Fund III limited partners with a secure source of high quality solar panels at attractive prices.”
“We are gratified by the opportunity to partner with TGC, a visionary leader within the C&I space; it is currently a $20 billion segment, with a CAGR (Compound Annual Growth Rate) of over 15%,” said Ashok Sinha, the Chairman and CEO of Sunpreme. “We estimate that Sunpreme's advanced technology increases solar project profitability by ~10% through increased energy production and systems level cost reductions, and expect for this to be sustainable, thanks to our innovation-driven cost roadmap.”
Sunpreme's high power modules are rated 380W, 400W and 420W (DC). Sunpreme announced the supply contract at Solar Power International 2017, being held in Las Vegas.
