Q CELLS announced today that it has secured tax equity investment for its Kellam Solar Project, located in Van Zandt County, Texas in the North ERCOT load zone. RBC Community Investments (RBC) 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 81MWp and is fully contracted to its offtaker under a 15-year busbar power purchase agreement for all energy and environmental attributes. Construction of the solar farm commenced in April 2020 and full commissioning with commercial operation under its power purchase agreement 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.”
About RBC Community Investments
https://www.rbccm.com/en/expertise/us-municipal-finance/community-investments.page
RBC Community Investments is a leading provider of Renewable Energy Tax Credits, Low Income Housing Tax Credits, Workforce/Impact Housing, Historic Tax Credits, and State Tax Credits. Our team is dedicated to the financing and development of renewable energy solutions and affordable housing throughout the country. As of December 2020, our team of over 100 professionals has closed over $12 billion in tax credit equity with over 90 institutional investors. Investors receive a full suite of asset management and reporting services throughout the investment life cycle.
About Q CELLS
Q CELLS is a renowned total energy solutions provider in solar cell and module, energy storage, downstream project business and energy retail. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ) with operations all over the world. Through its growing global business network spanning Europe, North America, Asia, South America, Africa and the Middle East, Q CELLS provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: http://www.q-cells.com.
