Canadian Solar, Inc., announced today that its wholly owned subsidiary Recurrent Energy, LLC has signed a power purchase agreement (PPA) with Dallas-based Fortune 100 oil and gas pipeline company, Energy Transfer. This PPA represents Energy Transfer's first-ever dedicated solar contract.
The 40 MWp/28 MWac power contract signed with Energy Transfer for solar energy from the Maplewood 2 project has a duration of 15 years. Like the Maplewood project, which is contracted with Anheuser-Busch as was also announced June 4, the Maplewood 2 project is located in Pecos County in the Permian Basin of West Texas. In total, the Maplewood and Maplewood 2 projects will power 62,000 homes with clean electricity once operational by 2021. Canadian Solar's high efficiency poly modules are likely to be used for the projects.
Recurrent Energy is in the early stages of seeking potential equity partners on the Maplewood project portfolio that includes Maplewood and Maplewood 2. As previously announced, Recurrent Energy has recently signed electricity contracts with other C&I customers including San Francisco Bay Area Rapid Transit, a leading Silicon Valley university, and with Anheuser-Busch.
