Premier Power and Chaori plan 3 PV projects in New Jersey worth $27.6 million09. March 2012 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
Premier Power Renewable Energy and Chaori Solar USA have signed a US$27.6 million agreement, under which they plan to develop utility-scale power plants in the U.S.
A spokesperson for Premier Power tells pv magazine that a total of three photovoltaic projects will be installed in New Jersey. While construction is scheduled to begin in the first quarter of 2012, the plants are expected to be online by the end of the year. Two will be 2.3 megawatts (MW) in size, while the third will be 4.6 MW.
According to a separate statement released, Premier Power will act as engineering, procurement and construction contractor, and will use photovoltaic panels from Sunperfect Solar, Inc., a partner of Shanghai Chaori Solar.
"Our expertise in the U.S. and Europe allows Premier Power to pursue the strategy of providing assets and construction services to respected Chinese asset investment funds like Shanghai Chaori," commented Dean Marks, CEO of Premier Power. He added that there is an "eagerness to invest" in energy infrastructure by Chinese companies, and hinted that more, similar agreements are in the pipeline.
Willy Chow, CEO of both Chaori USA, LLC and Sunperfect Solar said that Chaori is strengthening its presence in the U.S. via strategic investments, due to the fact that the country is prioritizing renewable energy.
It was recently reported that New Jersey is suffering from an oversupply of Solar Renewable Energy Certificates, also called SRECs, due to the "unintended positive consequences of overlapping programs intended to motivate solar generation." In an exclusive interview with pv magazine, Jamie Hahn, senior partner of Manasquan, New Jersey-based Solis Partners said that solar installation capacity in the U.S. state currently exceeds 530 megawatts. He also offered up his suggestions on how the situation could be improved.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 1730 views
- 1679 views
- 1407 views
- 1343 views
- 1299 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!