California is a state that possesses great renewable potential due to the vast hours of sunlight the region receives each year. A landmark achievement was met in May 2022, when the area produced enough green energy to meet 103% of consumer demand. Despite the number of solar assets located in the state, a significant investment is required to increase the amount of storage capacity. In this article, we will discuss three developers based in California that offer PPAs.
1) 174 Power Global Corp – Solar, hydrogen, and storage developer based in Irvine
174 Power is a leading American developer of renewable energy, to date, the group operates over 15 solar projects with an installed capacity of 1GW and a further 400MW under development. Since its establishment in 2017, the group has developed 3GW of PPAs and has become a specialist in the negotiation of such deals. The group aims to add to this number with a potential 8GW of projects currently in the pipeline.
2) Candela Renewables – Solar developer based in San Francisco
Candela Renewables is a solar and storage developer of utility-scale projects, the group has developed 4GW of projects located across the United States. The group has developed projects with some of the biggest companies in the states such as Apple. In August 2020, Candela supplied 140MW of solar energy as part of a PPA.
3) Clearway Energy Group – Wind, solar, and storage developer based in San Francisco
The San Francisco-based group is one of the leading American developers of wind, solar, and storage projects. Currently, Clearway Energy has an installed capacity of 5.7GW spread across the wind, solar, and storage projects. In 2021, the group announced a $925 bond to finance or refinance green energy projects providing they meet eligibility criteria. Almost a year later, in October 2022 Clearway signed two long-term PPAs located in Wyoming which will run for 25 years.
Image Source: Maarten van den Heuvel via Unsplash (17.02.2023)
