{"id":921,"date":"2022-01-26T13:00:56","date_gmt":"2022-01-26T04:00:56","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=921"},"modified":"2022-01-26T09:43:24","modified_gmt":"2022-01-26T00:43:24","slug":"recurrent-energy-signs-agreement-to-sell-150-mwac-virginia-solar-project-to-appalachian-power","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2022\/921.html","title":{"rendered":"RECURRENT ENERGY SIGNS AGREEMENT TO SELL 150 MWAC VIRGINIA SOLAR PROJECT TO APPALACHIAN POWER"},"content":{"rendered":"

GUELPH, Ontario,\u00a0Jan. 5, 2022<\/span>\u00a0\/PRNewswire\/ — \u00a0Canadian Solar Inc.<\/a>\u00a0<\/span>(“Canadian Solar”) (NASDAQ: CSIQ) today announced its wholly-owned subsidiary,\u00a0Recurrent Energy, LLC<\/a>\u00a0<\/span>(“Recurrent”), has completed a purchase and sale agreement with\u00a0Appalachian Power\u00a0for Recurrent’s Firefly Energy solar project located in\u00a0Pittsylvania County, Virginia. With a capacity of 150 MWac, the Firefly project will be\u00a0Appalachian Power’s\u00a0largest solar energy acquisition<\/a>\u00a0<\/span>to date and will help the utility meet its clean energy requirements under the Virginia Clean Economy Act (VCEA).<\/p>\n

 <\/p>\n

The Firefly Energy solar project will be developed and constructed by Recurrent under a Build Transfer Agreement (BTA). Once construction is completed,\u00a0Appalachian Power, which serves customers in\u00a0Virginia,\u00a0West Virginia, \u00a0and\u00a0Tennessee, will be the long-term owner of the project. Pending local and state permits and other regulatory approvals, construction of the project is expected to start in early 2023 and reach commercial operation in 2024.<\/p>\n

 <\/p>\n

Recurrent received approval on its Siting Agreement for the Firefly project last month from the\u00a0Pittsylvania County Board of Supervisors. The agreement provides\u00a0$2.25 million\u00a0in upfront payments to\u00a0Pittsylvania County\u00a0in addition to\u00a0long-term revenue<\/span>\u00a0for public services over the life of the project. \u00a0“We appreciate Recurrent working with the County to strike a balance that allows solar development to happen in a way that minimizes visual impact and positively impacts\u00a0our community,” said<\/span>\u00a0County Administrator\u00a0David Smitherman.<\/p>\n

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“The 150 MWac Firefly project in\u00a0Virginia\u00a0expands our growing footprint across the eastern\u00a0United States, delivering turnkey projects for utilities and other investors,” said\u00a0Dr.\u00a0Shawn Qu<\/a><\/span>, chairman and CEO of\u00a0Canadian Solar. “We are pleased to have been selected through a competitive process and to be a part of\u00a0Appalachian Power’s\u00a0major solar energy expansion. We look forward to advancing this project through development and construction, and delivering a renewable solar energy project to\u00a0Appalachian Power\u00a0that will help them serve their\u00a0Virginia\u00a0customers.”<\/p>\n

 <\/p>\n

Passed in 2020 by the\u00a0Virginia General Assembly, the VCEA seeks to end carbon dioxide emissions from the utility industry in\u00a0Virginia.\u00a0Appalachian Power\u00a0intends to meet its VCEA targets primarily through future investments in solar, wind, energy storage, and energy efficiency measures.<\/p>\n

 <\/p>\n

“This will be our largest solar project yet in our journey to deliver clean, reliable power to our customers,” said\u00a0Chris Beam,\u00a0Appalachian Power\u00a0president and chief operating officer. “We are eager to work with Recurrent and for the significant economic benefits construction will have on the surrounding community.”<\/p>\n

 <\/p>\n

Appalachian Power\u00a0has 1 million customers in\u00a0Virginia,\u00a0West Virginia\u00a0and\u00a0Tennessee\u00a0(as\u00a0AEP Appalachian Power). It is part of American Electric Power, which is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions. AEP’s approximately 16,800 employees operate and maintain the nation’s largest electricity transmission system and more than 223,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million customers in 11 states. AEP is also one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including 5,500 megawatts of renewable energy.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, Ontario,\u00a0Jan. 5, 2022\u00a0\/PRNewswire\/ — \u00a0Canadian Solar Inc.\u00a0(“Canadian Solar”) (NASDAQ […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-921","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=921"}],"version-history":[{"count":2,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/921\/revisions"}],"predecessor-version":[{"id":923,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/921\/revisions\/923"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}