C2 Energy Capital, a renewable energy and storage assets investor, has purchased California’s largest floating solar project from Ciel & Terre, a company developing and building such systems.
“The acquisition of this advanced floating solar system further diversifies and strengthens our power-generation portfolio,” said Candice Michalowicz, co-founder and managing partner of C2 Energy Capital. “C2 Energy Capital continues to lead by adopting novel photovoltaic technologies that reduce greenhouse gases and generate clean renewable energy.”
C2 Energy Capital acquires the largest floating PV system in California.
Located in Windsor, California, the 1.78-MW system uses Ciel & Terre‘s patented Hydrelio technology to float a grid of 4,959 high-performance solar modules on the surface of the town’s largest recycled water storage pond. The system covers 22% of the pond’s surface, and can be expanded. Cooled by the underlying water, the array helps slow surface evaporation and algae growth with no impact on the pond’s ecology.
“Collaborating with a leading developer and asset owner like C2 Energy Capital helps to streamline financing on large projects,” says Eva Pauly-Bowles, Ciel & Terre managing director. “It’s especially critical when implementing our floating PV systems that are relatively new in the U.S. compared to Asia and Europe.”
As part of the project, Windsor has signed a 25-year power purchase agreement that will demonstrate substantial savings. The system generates approximately 90% of the energy needed for water reclamation and associated operations and will reduce the facilities’ electricity costs by 30% compared to grid services.
“The town is proud and excited to have clean renewable energy power Windsor’s water treatment plant. It aligns with the Town’s Climate Action Plan energy efficiency goals. This move helps to protect our environment, improve public health and save the Town millions of dollars,” said Mayor Dominic Foppoli
Ken MacNab, Windsor town manager, added: “We’re on track to save $5.4 million in electric costs over the next 25 years. We’re happy to have a customer-focused partner in C2 Energy Capital—committed to strong relationships and long-term success.”
News item from C2 ENERGY CAPITAL
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