Premier Power Renewable Energy recently announced that the company has executed an agreement with Chaori Solar USA, a subsidiary of Shanghai Chaori Solar Energy Science & Technology Company. The $27.6M contract will see the construction of several solar power plants in the U.S., which is scheduled to begin in the first quarter of this year.
Based in El Dorado Hills, CA, Premier Power is a global provider of solar power systems, enabling its customers to maximize clean energy output along with project savings. Chaori Solar, based in Delaware, is a producer of solar cells and modules, with the annual capacity of 400 MW for solar cells and 500 MW for solar modules.
This contract shows a continuing relationship between Premier and China-based investment groups. Under the terms of the contract, Premier will perform engineering, procurement, and construction services using panels provided by Sunperfect Solar, Inc. and its proprietary Energy Yield Optimization service. Premier claims that its one thousand-plus North American and European solar plants have historically delivered a higher performance ratio than the market average.
“Our expertise in the U.S. and Europe allows Premier Power to pursue the strategy of providing assets and construction services to respected Chinese asset investment funds like Shanghai Chaori,” said Dean Marks, CEO of Premier Power. “Organizations throughout China have demonstrated an eagerness to invest in energy infrastructure in both of these key markets. We are confident this agreement is the first of more to come.”
“With the U.S. prioritizing alternative energy, we are focused on expanding our presence in this important market through strategic investments,” said Willy Chow, CEO of both Chaori USA, LLC and Sunperfect Solar, Inc., a partner of Shanghai Chaori Solar. “Our decision to own energy infrastructure assets in the form of utility-scale solar power plants is based on our commitment to a U.S. market driven by both productivity and effectiveness.”
Let us hear your thoughts below: