By cutting solar-PV with advanced battery technology, Canadian Solar helps its customers produce and store solar electricity during the day for evening use. This approach allows California`s electricity grid to absorb and integrate a higher level of reliable, safe and affordable renewable energy, while contributing to the state`s efforts to combat climate change. „We strive to be leaders in the development of renewable energy,” said Lloyd C. Blankfein, President and CEO of Goldman Sachs. „Through the online development of this new wind project, the agreement will help develop the renewable energy network and contribute to the dynamism of a less CO2-emitting economy.” The agreement will invest and develop a new 68-megawatt wind project in Pennsylvania and is expected to result in up to 150 construction jobs and a reduction of more than 200,000 tonnes of greenhouse gas emissions per year once it is operational. About Goldman Sachs Renewable Power LLCGoldman Sachs Renewable Power LLC is a privately held company that runs the Renewable Power Group of Goldman Sachs Asset Management (GSAM). GSRP is the developer of more than 800 solar projects in 27 U.S. states that have a total capacity of more than 1.8 gigawatts of clean renewable energy. GsAM Renewable Power Group is comprised of investment experts with leading expertise in transaction acquisition, financial analysis, energy markets, and physical asset analysis and operation. The team takes a long-term approach to the operation and management of renewable assets and benefits from Goldman Sachs` extensive network of relationships, leading institutional infrastructure and internal industry expertise and experience. Renewable Power Group is part of GSAM, one of the world`s leading asset managers with a global wealth of approximately $1.8 trillion as of March 31, 2020. „GSRP and First Solar share a common vision for a sustainable energy-driven future and a strong obligation to achieve this by setting and meeting some of the highest standards of environmental responsibility in the sector. We thank GSRP for its confidence and for recognizing the value of including a project developed by First Solar in its portfolio,” said Richard Romero, Vice President, Project Finance and Treasury, First Solar.
„As a U.S. solar company, we are proud that this project supports California`s efforts to decarbonize its electricity through state-developed technology.” Canadian Solar Inc., a manufacturer of solar photovoltaic modules and supplier of solar and storage solutions, has entered into a supply contract and a long-term service contract with Goldman Sachs Renewable Power LLC, part of The Renewable Power Group of Goldman Sachs Asset Management, to supply and integrate a 100 MW lithium-ion battery solution in California. „Through the use of the company`s intellectual capital and J. Aron`s expertise in the energy markets, we were able to structure the agreement to achieve our operational and sustainable development goals through a creative market-based solution,” blankfein said. The portfolio includes back and supply investments that supply electricity to a wide range of private and public sector customers through long-term power purchase contracts (PPAs). The facility is powered by First Solar`s 6-Series photovoltaic modules, which are developed and developed in the company`s research and development centres in California and Ohio. The module sets standards for quality, reliability, design and environmental performance in the sector.