Solar Frontier Americas acquires megasolar project in Colarado, USA

TOKYO: Solar Frontier Americas Inc., a consolidated subsidiary of Idemitsu Kosan Co.,Ltd. has purchased a megasolar project in the State of Colorado, U.S. (Project name: Pioneer; power generation scale: 100 MWp; Commercial operation scheduled to start in 2020), currently in its pre-construction phase, from GCL New Energy, Inc., a wholly-owned subsidiary of GCL New Energy Holding Limited, as of August 1st.

Idemitsu Kosan invested in Solar Frontier Americas through wholly-owned subsidiary RS Renewables K.K. for the acquisition of this project, which is the second power plant added to its  independent power producer (IPP) business in the United States following the project in California (power generation scale: 210 MWp) purchased last year.

Solar Frontier Americas takes over the project in its pre-construction stage from GCL New Energy, Inc. and will construct the solar power plant. When the power plant starts operation, it will enter into a long-term power purchase agreement with Intermountain Rural Electric Association, a power company based in Colorado, to supply power that can support approximately 26,000 households.

Amid the expanding global demand for power, solar power and other renewable energy sources are expected to take on a prominent role in resolving power generation demands.

Idemitsu Kosan will continue to conduct the renewable energy generation business in North America and Asia, where demand is further expected to increase.

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