Canadian Solar Inc.’s wholly-owned subsidiary, Recurrent Energy LLC has completed a purchase and sale agreement with Appalachian Power for Recurrent’s Firefly Energy solar project, located in Pittsylvania County, Va. With a capacity of 150 MW AC, the Firefly project will be Appalachian Power’s largest solar energy acquisition to date and will help the utility meet its clean energy requirements under the Virginia Clean Economy Act (VCEA).
Recurrent will develop and build the Firefly Energy project under a Build Transfer Agreement (BTA). Appalachian Power will be the long-term owners of the project once construction is complete. This company serves customers in Virginia West Virginia and Tennessee. Construction of the project is expected start in early 2023. Commercial operation will occur in 2024, depending on whether permits are granted by local and state governments.
Recurrent received approval from the Pittsylvania County Board of Supervisors for its siting arrangement for the Firefly Project last month. The agreement provides Pittsylvania County with $2.25million in upfront payments and long-term revenue to support public services for the duration of the project.
“We appreciate Recurrent working with the county to strike a balance that allows solar development to happen in a way that minimizes visual impact and positively impacts our community,” says County Administrator David Smitherman.
“The 150 MW AC Firefly project in Virginia expands our growing footprint across the eastern United States, delivering turnkey projects for utilities and other investors,” states Dr. Shawn Qu, chairman and CEO of Canadian Solar. “We are pleased to have been selected through a competitive process and to be a part of Appalachian Power’s major solar energy expansion. We look forward to advancing this project through development and construction, and delivering a renewable solar energy project to Appalachian Power that will help them serve their Virginia customers.”
The Virginia General Assembly passed the VCEA in 2020. It aims to eliminate carbon dioxide emissions from Virginia’s utility industry. Appalachian Power will invest in future solar, wind, energy storage, and energy efficiency measures to meet its VCEA goals.
“This will be our largest solar project yet in our journey to deliver clean, reliable power to our customers,” comments Chris Beam, Appalachian Power’s president and COO. “We are eager to work with Recurrent and for the significant economic benefits construction will have on the surrounding community.”