GCL New Energy Inc., a subsidiary of clean energy conglomerate GCL Group, has signed a long-term power purchase agreement (PPA) with Intermountain Rural Electric Association for a 110 MW solar greenfield project in Colorado.
The Pioneer project is located on a 611-acre site 35 miles east of Denver, where the land is flat and has good irradiance, notes GCL. The total annual yield of the Pioneer project is around 215 million kWh, and the project is expected to be grid-connected in 2020.
The PPA has a fixed initial contract term of 10 years, with three optional, five-year extensions for a possible 25-year lifetime. Through the Pioneer project, GCL New Energy says it will gain valuable experience developing a U.S. greenfield project and create a development model for future projects.
GCL New Energy says it has shifted its development strategy from focusing only on the Chinese market to aggressively expanding in both the Chinese and global markets. Specifically, it has been stepping up its capacity in overseas solar farm development. The company has three regional headquarters in North America, Japan and Africa.
GCL New Energy is also pushing forward with its global goal of realizing more than 3 GW of solar projects by 2020 and is actively seeking strategic partners.