Blue Earth recently signed contracts with Talesun Solar USA and New Generation Power to build 165 megawatts of PV projects over a 24 month period, which will result in roughly $336 million in revenue.
"This relationship with Talesun and NGP is a transformative event for our BE Solar business unit, as it will provide a steady base of EPC contract solar revenues that start in the fourth quarter and continue for an extended period of time,” said Johnny Thomas, CEO of Blue Earth. “We are pleased to work with both Talesun and NGP to construct their solar projects and to have a preferred solar panel relationship with Talesun. The solar EPC revenue will provide significant revenue growth for Blue Earth, while the large combined heat and power plants are being constructed by the Blue Earth CHP division, so that we commence receiving recurring revenues as a significant independent power producer.”
The company will start with nine Talesun projects in California, which will account for 18 megawatts of the overall project scope. Blue Earth will provide the engineering, procurement and construction for the projects, which will use Talesun modules. Construction on three of the projects will begin later this year and the six other projects will be underway sometime during the first quarter of 2014. All are slated for completion in 2014.
“The first 10 MW of projects are expected to commence during the fourth quarter of 2013, with completion dates by the 2nd quarter of 2014,” a representative with Blue Earth said.
Through its partnerships, Blue Earth is investing a total of $6.5 million.
"Talesun is glad to team with Blue Earth for the execution of the projects,” said Frank Qi, Talesun CEO. “This partnership strengthened Talesun's capability to source, develop and execute solar projects.”
"This collaborative partnership with Talesun and Blue Earth will allow New Generation Power to rapidly deploy its pipeline of solar projects in the US this year and realize revenues early next year,” said Albert Kuna, NGP COO. “The 147 MW of solar projects will make a positive impact on the environment and to this nation's energy security and will further solidify New Generation Power as a prime solar power provider."
NGP is one of the companies awarded as part of the U.S. Army’s $7 billion MATOC, which will fund solar projects at Army installations across the U.S.