Actualize Solar, a leading renewable energy company, has recently announced the signing of five new long-term power purchase agreements (PPAs) with a major utility in the United States. This brings their current project portfolio to over 1.5 GW of capacity, spread across more than 20 solar projects in six states in the Mid-Atlantic and Southeastern regions of the U.S.
According to Bob White, the Chief Development Officer of Actualize Solar, the signing of these new PPAs is a testament to the company’s ability to meet the needs of their customers while also advancing their goal of fully contracting their project portfolio. Last year, they signed three long-term PPAs for their utility-scale projects, and they are determined to continue their growth trajectory.
Gintaras Sadauskas, the CFO of Actualize Solar, also expressed his confidence in the company’s success, stating that they have assembled a top-notch team with over 70 years of project development and project finance expertise. This team will ensure that their projects reach their commercial operation dates successfully. He also mentioned their plans to rapidly expand their utility-scale solar portfolio in the US.
The CEO of Actualize Solar, Vadim Ovchinnikov, shared their ambitious goal of expanding their portfolio to 2.5 GW by the end of 2026. He believes that the expected high growth rates of AI technology and data centers in the US will help ensure that their projects find their customers. Ovchinnikov also highlighted the company’s successful track record, which is based on a disciplined, programmatic approach to renewable energy project development and securing long-term contracted revenues from credit-worthy offtakers. With over $480 million of contracted revenues, Actualize Solar is excited to continue bringing high-quality solar projects to communities across the US and provide competitive solutions to utilities, local cooperatives, and corporate clients.
This news is significant as it showcases Actualize Solar’s continued growth and success in the renewable energy industry. With their expanding project portfolio and experienced team, they are well-positioned to meet the increasing demand for clean energy solutions in the US. This also has a positive impact on the environment, as the use of solar energy reduces carbon emissions and promotes sustainability. Overall, Actualize Solar’s efforts contribute to the larger goal of transitioning to a more sustainable and greener future.