Written by: Leonard Parker | Solar News | 13th April
Q CELLS has secured tax equity investment for its Kellam Solar Project, located in Van Zandt County, Texas. RBC Community Investments arranged the tax equity and will retain investment oversight in the project. The project comprises 193,620 Q.PEAK DUO L-G8.3 and L-G8.2 solar modules, 20 inverters and will produce enough electricity to power approximately 15,000 homes.
The Kellam Project has a rated capacity of 81 MWp and is fully contracted to its offtaker under a 15-year busbar PPA for all energy and environmental attributes. Construction of the solar farm began in April 2020 and full commissioning with commercial operation under its PPA was achieved in December 2020.
The project once again highlights Q CELLS’ strength as a developer, EPC contractor, and a vertically-integrated supplier of modules. For project operation, the Kellam Project has engaged a leading O&M provider alongside a third-party asset manager with substantial industry expertise.
Yonette Chung McLean, Managing Director at RBC shared, “RBC’s investment in the Kellam Project demonstrates our continued commitment to the renewable energy tax equity market while supporting the investment initiatives and ESG goals of our investor partners. We are proud to partner with Q CELLS on this and future solar projects.”
JK (Jaekyu) Lee, Senior Vice President of Hanwha Q CELLS USA Corp. said, “We are very excited to partner with RBC on the tax equity financing of this transaction in Texas, further establishing Hanwha Q CELLS USA’s commitment to downstream projects in North America. Hanwha Q CELLS USA adds to its EPC track record in Texas, having built more than 600MWp of projects in the state as of today, which we view as a significant milestone.”