United Renewable Energy (“URE”, or “the Company”, 3576 TT), announced that its subsidiary, General Energy Solution, Inc. (GES), sold two 100% owned subsidiaries under GES USA which hold solar portfolio of about 13.2MW to CleanCapital, a veteran investor in clean energy sector. This deal is worth about US$24 million.
The solar portfolio included IND Solar Farm at the Indianapolis International Airport, which was completed in 3 phases, with a total size of 25.5MW. It was the largest solar farm on airport real estate in the world. The Phase I sold in this deal used over 44,000 solar panels, which can produce around 17 million kilowatt hours of power annually, enough to support yearly demand of electricity for 2000 households nearby.
CleanCapital is a financial technology company. Its growth has accelerated in the past twelve months, having invested more than US$300 million to acquire more than 100MW of distributed operating solar assets throughout the United States. CleanCapital now owns and operates 108 solar sites in 11 states. The company partnered with other well-known institutional investors in driving institutional investment into the rapidly growing distributed clean energy sector. Jack Chen, Managing Director of General Energy Solutions USA said, “we are proud to work with an organization that so clearly demonstrates the capacity to invest in and effectively manage clean energy assets.”
Continuous global warming has led to further dramatic climate change events, which UN has named the greatest threat facing mankind. This causes more financial institutions to increase investment in renewable energy, and URE to aggressively develop PV solar projects globally. As solar power stations can generate expected cash flows for more than 20 years, this type of investment can help with achieving Paris Agreement. Being the largest solar system developer in Taiwan, URE has over 1GW of solar system projects in the pipeline, and other projects contracted or under development all over the world. With growing lists of completed solar project, as well as aggressive investment by financial institutions in renewable energy, system business will become an important growth driver in the future of URE.
Investor Relations Manager
Investor Relations Manager
Carly Battin, Marketing Director
URE is a leading solar system integrator on a global scale, developing high-performance and high-quality solar products, leading the way as a provider of sustainable and affordable photovoltaic energy solutions. URE is capable of providing the best total solution and service in engineering, maintenance and operation. URE’s projects sell electricity to commercial, government and utility customers in key-developed and emerging markets. For more information, please visit our website: https://www.urecorp.com
CleanCapital is an industry-leading clean energy investment platform. Founded in 2015, CleanCapital owns and manages nearly $300M of distributed operating solar assets. CleanCapital leverages its leading edge technology platform to evaluate renewable energy investments with speed and certainty. Its mission is to accelerate investment in all sectors of the clean energy industry to address the urgent threat of climate change. Learn more at www.cleancapital.com.