The AES Corp. has partnered with Clearway Energy Group, Cypress Creek Renewables and D. E. Shaw Renewable Investments (DESRI) to form the U.S. Solar Buyer Consortium to drive expansion of the domestic solar supply chain and support the growth of the American solar industry.
The U.S. Solar Buyer Consortium is committed to purchasing more than $6 billion of solar panels and is looking for manufacturers that are aligned with the consortium’s goals that can supply up to 7 GW of solar modules per year starting from 2024.
AES has a large backlog of solar projects in the U.S., including 3.4 GW of new projects coming online from 2022 to 2025, out of a total backlog of 10.3 GW across all geographies and technologies. In 2021, AES signed contracts for 5 GW of power purchase agreements (PPA) for renewable energy, including 1.4 GW for U.S. solar projects. AES has a 59 GW development pipeline of which 68% is in the United States.
“With our large and growing pipeline of solar projects, AES is fully committed to accelerating America’s transition to clean energy,” says Andrés Gluski, AES’ president and CEO. “Some of America’s top solar developers have come together to do our part to help attract investments into U.S. solar manufacturing. It is crucial, however, that the U.S. government creates a realistic, long-term policy framework that supports onshoring more of our solar panel supply chain without unnecessarily disrupting the growth and success of our sector.”