Recurrent Energy, Appalachian Power signs agreement for sale of 150 MWac Firefly Energy solar PV project in Pittsylvania County

Canadian Solar Inc., through its wholly-owned subsidiary, Recurrent Energy, LLC (Recurrent), has completed a purchase and sale agreement with Appalachian Power for Recurrent's Firefly Energy solar project located in Pittsylvania County, Virginia. With a capacity of 150 MWac, the Firefly project will be Appalachian Power's largest solar energy acquisition to date and will help the utility meet its clean energy requirements under the Virginia Clean Economy Act (VCEA).

The Firefly Energy solar project will be developed and constructed by Recurrent under a Build Transfer Agreement (BTA). Once construction is completed, Appalachian Power, which serves customers in Virginia, West Virginia, and Tennessee, will be the long-term owner of the project.

Pending local and state permits and other regulatory approvals, the construction of the project is expected to start in early 2023 and reach commercial operation in 2024.

Recurrent received approval on its Siting Agreement for the Firefly project last month from the Pittsylvania County Board of Supervisors. The agreement provides US$2.25 million in upfront payments to Pittsylvania County in addition to long-term revenue for public services over the life of the project.