Sunpreme has been awarded a master supply agreement by True Green Capital Management, a distributed energy infrastructure asset management firm. TGC recently raised its $350 million True Green Capital Fund III, L.P. for which the investment thesis includes U.S.-based commercial and industrial solar projects. TGC recently commissioned a 16.5-MW roof top project for the Los Angeles Department of Water and Power (LADWP) of which 10 MW was delivered by Sunpreme.
Panos Ninios, TGC’s Managing Partner said, “Following over three years of very positive product and customer service experience, we are now glad to raise our relationship with Sunpreme to a significantly higher level. We expect that Sunpreme will expand its production capacity, ideally with a US based manufacturing facility that creates new US high paying jobs in the solar business, while providing our Fund III limited partners with a secure source of high quality solar panels at attractive prices.”
“We are gratified by the opportunity to partner with TGC, a visionary leader within the C&I space; it is currently a $20 billion segment, with a CAGR (Compound Annual Growth Rate) of over 15%,” said Ashok Sinha, the Chairman and CEO of Sunpreme. “We estimate that Sunpreme’s advanced technology increases solar project profitability by ~10% through increased energy production and systems level cost reductions, and expect for this to be sustainable, thanks to our innovation-driven cost roadmap,” he added.
Ilias Garidis, TGC Partner said, “We look forward to using Sunpreme’s high power modules rated 380W, 400W and 420W DC over the three-year term of this MSA. We are pleased with Sunpreme’s track record of continuous innovation coupled with a comprehensive warranty backed by Munich Re.”
“We are proud to deliver to TGC and our other global customers a winning combination of cost, power and yield through our proven HCT (Hybrid Cell Technology) platform and advanced module designs. This has enabled market-leading STC Power, Bifacial boost, thermal coefficient and zero LID, combined with a manufacturing yield of higher than 98% in our 24×7 factory operations.” stated Moris Kori, Sunpreme’s Chief Strategy Officer.
News item from Sunpreme