Hanwha Energy and Korea Midland Power (KOMIPO) announced on July 22 that they have signed a power purchase contract (PPA) with NV Energy for the third stage of the Boulder solar power generation project in Nevada, the U.S.
The 3rd stage Boulder solar power generation project is a project that can supply power to 36,000 households annually in Nevada and is expected to contribute to stable power system operation by constructing an Energy Storage System (ESS).
KOMIPO established KOMIPO America in the U.S. in 2012 and successfully completed the construction in January 2017 by propelling the stage 1 100MW and stage 2 50MW development project with SunPower, a local solar energy company.
In particular, it is significant that it has won the largest overseas solar energy-linked ESS project as a Korean company.
The stage 3 power generation project will be carried out through partnership with Hanwha Energy. If the project is successfully completed, it is expected to leave a big mark in the highly competitive U.S. solar energy market in terms of the joint advancement of Korean companies.
It is also expected to produce symbolic results of the development, construction and commercial operation of large-capacity solar power plants and energy storage systems in the United States.
"This project is significant in that it is a joint development project between private and public companies," said Jeong In-seop, CEO of Hanwha Energy. "We plan to continue our business performance by taking advantage of the opportunity to further solidify the position of Korean energy companies in the U.S."
"We plan to respond to changes in the global energy paradigm through the successful implementation of the project and actively advance into overseas renewable power generation areas with domestic companies in response to the government's Green New Deal policy," said Park Hyung-koo, president of KOMIPO.
Meanwhile, Hanwha Energy concluded a contract to supply more than 500MW power with Nevada Energy, a power company in Nevada.
Through its subsidiary 174 Power Global, it will directly carry out all areas of solar power generation business from development to financing and operating power plants.
It is estimated that 174 Power Global has become a strong player in the North American solar energy market with the projects for more than 2GW based on PPA signing and 10GW based on development, along with this project.
