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Renewable Power Group Goldman Sachs – Goldman Sachs Renewable Power LLC acquires 123 MW of first PPA-backed 15-year solar project American Kings with California Utility
TEMPE, Ariz., July 23, 2020 (GLOBE NEWSWIRE) — First Solar, Inc. (Nasdaq: FSLR) today announced that Goldman Sachs Renewable Power LLC (GSRP), a privately held company managed by Goldman Sachs’ renewable energy group Varahaldus. (GSAM) acquired 123 megawatts (MW)
Renewable Power Group Goldman Sachs
The US Kings Solar project closed in late June 2020 in Kings County. California The project is supported by a 15-year power purchase agreement (PPA) with Southern California Edison and is expected to begin operations in the fourth quarter of 2020.
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“We are pleased to partner with First Solar and M&T Bank to acquire the American Kings Solar project. It is a long-term PPA-financed facility that is responsibly developed and produces low-carbon electricity. “We believe this plant will benefit the environment and communities by directly replacing carbon dioxide emissions. We look forward to adding it to our growing portfolio in the United States.
The facility is powered by first-generation photovoltaic (PV) modules, the Solar Series 6, designed and developed at the company’s research and development centers in California and Ohio. The module sets industry standards in terms of quality. Reliability, design and environmental impact With up to six times the carbon footprint of crystalline silicon solar panels produced using conventional high-energy manufacturing methods, the 6 Series offers an excellent environmental profile and solar performance. The lowest carbon content available today.
“GSRP and First Solar share a common vision of a future driven by sustainable energy. and a commitment to achieving this goal by implementing and maintaining the highest environmental management standards in the industry. We thank GSRP for their trust and for recognizing the value of adding First Solar’s developed projects to their portfolio,” said Richard Romero, Vice President, Project Finance and Treasury, First Solar. We are proud that this project will support California’s efforts to reduce carbon emissions in the state. using developed technologies.
“Partnering with GSRP to purchase the American Kings solar project marks M&T’s continued commitment to the renewable energy sector,” said Eric Heintz, director of energy financing at M&T Bank, which is providing tax dollars for the project. “GSRP’s strong team is well-positioned to lead the American Kings initiative forward and bring us all closer to our shared goal of a clean energy future.
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Once done, American Kings will displace 78,000 tonnes of CO2 per year, equivalent to taking 15,000 cars off the road each year. and saves 79 million gallons of water per year on the California average The program’s air quality benefits exceed $12 million in annual medical cost savings.
Solar panels in more than 45 countries around the world. making it the only solar module company in the U.S. This goal was achieved with 1.9 GW of capacity.
Ohio’s First Solar is the largest producer of solar energy in the Western Hemisphere by annual capacity. The company also has manufacturing facilities in Vietnam and Malaysia, with a global annual Series 6 capacity of 5.5 GW.
First Solar, Inc. about First Solar is a leading global provider of total (PV) solar solutions using advanced module and system technology. The company’s integrated power plant solution is an economically attractive alternative to modern fossil fuel power generation. From sourcing raw materials to recycling end-of-life modules. First Solar’s renewable energy solutions help protect and improve the environment. For more information about First Solar, visit www.firstsolar.com.
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Goldman Sachs Renewable Power LLC is a private company managed by Goldman Sachs Asset Management (GSAM) Taastuvenergia Grupp. GSRP supports more than 800 solar projects in 27 US states with a total capacity of more than 1.8 gigawatts of clean renewable energy. The GSAM Renewable Power Group is comprised of investment professionals with leading expertise in transactional resources. Financial analysis, energy markets and physical asset analysis and operations. The team takes a long-standing, proprietary approach to managing and managing current assets and benefits from Goldman Sachs’ extensive network of relationships, leading institutional infrastructure. and proprietary industry knowledge and experience. Renewable Power Group is part of GSAM, one of the world’s leading asset managers with approximately $1.8 trillion in assets under supervision worldwide as of March 31, 2020.
This press release contains forward-looking statements made pursuant to the privacy requirements of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, sales statements.
American Kings Solar Project in Kings County California These forward-looking statements are often characterized by words such as “estimate” “expect” “expect” “project” “plan” “intend” “seek” “believe” “anticipate” “expect” “may “, “may” , “should”, “target”, “target”, “may”, “will”, “may”, “expect”, “next” and negative or plural These and other terms comparable Forward-looking statements are based on only on our current expectations and our expectations of future events. Therefore, speak only as of date here. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update these forward-looking statements for any reason, whether as a result of new information. future development or otherwise These forward-looking statements involve risks. uncertainties and other factors known and unknown that may produce actual results Our level of activity, performance or achievements will differ materially from what is expressed or implied in these statements. These factors include, but are not limited to, the topics discussed in this thread. Regarding “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results” in our most recent annual report on Form 10-K and quarterly filings. Report on Form 10-Q as Amended in Future Filings with the Securities and Exchange Commission.
The lowest-carbon American Kings is powered by 6 first-of-its-kind solar array photovoltaic (PV) panels designed and developed… CS Energy and Goldman Sachs Renewable Power Group are partners in delivering 216 MWdc of utility solar power in New York City.
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Albany, New York, April 27, 2021 – CS Energy, a leading integrated energy company that designs and builds optimized projects in the solar, storage and emerging energy industries. Working closely with Goldman Sachs Renewable Power Group (GSRP) and the New York State Energy Research and Development Agency (NYSERDA), he has successfully developed and begun construction of a new 216 MW DC solar project (MWdc) in New York City. The project is expected to begin commercial operations by the end of 2021, making it the first viable solar project in New York State.
*Stillwater Solar was developed by East Light Partners, purchased by GSRP and is being built by CS Energy.
In 2016, the New York Public Utilities Board, led by Governor Andrew Cuomo, passed clean energy standards that were further strengthened by the Climate Stewardship and Community Protection Act. 2019, which promises 70% of the electricity used in New York. the city is being built Renewable energy By 2030, there are eight solar projects developed in close cooperation with local communities and regional stakeholders. Received contracts from NYSERDA in 2017 and 2018 under the Standard Request for Proposals for Renewable Energy.
The solar portfolio, which will create over 500 construction jobs, continues to support the renewable energy plumbers group. It is already considered one of the fastest-growing work groups in New York. beyond work These projects represent more than $160 million in private investment and are expected to bring more than $80 million to local communities and regions. These benefits go to local landowners. Property tax jurisdiction as well as local contractors who provide ongoing support for project implementation and maintenance.
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“CS Energy is proud to continue to support New York in achieving its ambitious clean energy goals,” said CS Energy Chief Commercial Officer Eric Millard. We are proud to work closely with the local community to lead New York State’s first solar energy project. We are also excited to work with the excellent teams at Goldman Sachs Renewable Power, NYSERDA and National Grid, who all play a critical role in the success of these projects.”
This portfolio is an important step towards CS Energy’s goal of becoming the leading solar company in New York State. To date, CS Energy has built more than 150 MWdc of solar projects in New York and is approaching 500 MWdc by the end of 2021. CS Energy recently opened a regional headquarters in Albany to support its growth. New York currently employs more than 45 full-time project managers and engineers and supports a network of construction workers. local contractor and CS Energy subcontractors have
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