We are very excited to combine our capabilities with the world-class team at Tenaska, on the tax equity financing of this transaction, further establishing Q CELLS as a leader in solar in North America.
IRVINE, Calif. (PRWEB)
September 29, 2021
Q CELLS USA Corp. announced last week that operations have commenced at its Coniglio Solar Project, located in Fannin County, Texas and interconnecting in the North ERCOT load zone. Tenaska led the tax equity investment for the project and Tenaska’s power marketing affiliate, Tenaska Power Services Co., will serve as the qualified scheduling entity for the site’s electricity dispatching.
The Coniglio project comprises 404,712 Q.PEAK DUO L-G8.2 415W solar modules, supplied by Q CELLS America Inc. and 42 inverters. With a rated capacity of 168 MWp, the facility will be the largest project in Q CELLS’ operating portfolio to date in the U.S., generating enough electricity to power approximately 30,000 homes.
The project was acquired mid-development in February 2020, and the Q CELLS team completed the work on financing, interconnection, land, revenue contracting, engineering, and procurement. Construction of the project commenced in June 2020 and mechanical completion was reached in June 2021.
The success of this project serves to further cement Q CELLS’ position as a leading turnkey solar solution provider across all segments of the global solar industry, with vertically integrated expertise extending all the way from module engineering to development, financing, EPC, and power plant operation.
JK (Jaekyu) Lee, President of Q CELLS USA Corp. said, “We are very excited to combine our capabilities with the world-class team at Tenaska on the tax equity financing of this transaction, further establishing Q CELLS as a leader in solar in North America. We look forward to continuing to grow our solar portfolio and expanding into energy storage with our strong pipeline of development projects.”
“The Coniglio Solar Project is well-sited, and there is a growing need for power in the ERCOT market,” said Dave Kirkwood, Tenaska senior vice president of finance. “Providing tax equity and power marketing services for the project is a natural fit for Tenaska, which has a 30+ year proven record providing energy marketing services and developing, owning, and operating power plants throughout the state.”
About Q CELLS
Q CELLS USA Corp. (“HQC US”) develops, invests, and delivers photovoltaic (PV) and battery energy storage system (BESS) projects through Development and Engineering, Procurement, and Construction (EPC) solutions in North America. The company brings a decade of global leadership in solar PV to deliver utility-scale power generation plants customized for local and regional energy markets. It is an affiliate of Q CELLS Co., Ltd., one of the world’s largest and most recognized photovoltaic manufacturers for its high performance, high quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ). Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 8 business enterprise in South Korea. Q CELLS offers the full spectrum of PV solutions from the core technology of cells and modules to large scale project development and investment. For more information, visit: http://www.qcellsusa.com and on LinkedIn.
Tenaska is one of the leading independent energy companies in the United States, with a reputation for high standards and expertise in natural gas and electric power marketing, energy management, development and acquisition of energy assets, and operation of generating facilities. Forbes magazine consistently ranks Tenaska among the 50 largest private U.S. companies. Gross operating revenues were $7.7 billion in 2020.
Tenaska is a 2021 U.S. Best Managed Company, a recognition given by Deloitte Private and The Wall Street Journal to private companies that demonstrate excellence in strategic planning and execution, corporate culture and financial results. Tenaska has developed, managed and/or operated approximately 22 gigawatts (GW) of natural gas-fueled and renewables generation. Its development portfolios include more than 16 GW of solar, wind and energy storage projects. The current Tenaska operating fleet includes 7.5 GW of generating facilities.
Tenaska Marketing Ventures consistently ranks among the top five largest natural gas marketers in North America and is the top-ranked natural gas pipeline capacity trader. Tenaska Power Services Co. is the leading U.S. provider of energy management services to generation and demand-side customers. More information is available at http://www.tenaska.com. Connect with Tenaska on LinkedIn and Facebook.
This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and RBC and Q CELLS’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, RBC and Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Tenaska, PR Representative
Q CELLS USA Corp., Media Representative
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