Spark Power Secures Long-Term Agreement With Rayos del Sol Solar Project in Southern Texas

Rhea-AI Summary

Spark Power Group Inc. has entered a long-term operations and maintenance agreement with 174 Power Global for the Rayos Del Sol Solar Project in Cameron County, Texas. This agreement will provide comprehensive O&M support, enhancing the project's capacity of 180 MW, enough to power over 34,000 homes. Spark Power aims to deliver value-added services, reinforcing its commitment to renewable energy. The project also sells green electricity to Constellation, promoting sustainable energy distribution among major manufacturers.

Positive

• Secured long-term O&M agreement with 174 Power Global.
• Rayos Del Sol Solar Project has significant capacity of 180 MW.
• Green electricity sales to Constellation enhance revenue potential.

Negative

• None.

OAKVILLE, ON / ACCESSWIRE / July 26, 2022 / Spark Power Group Inc. (TSX:SPG) is pleased to announce that its solar O&M business ("Spark Power Renewables" or "Spark Power") has signed a long-term operations & maintenance ("O&M") agreement with 174 Power Global ("Rayos"), a U.S.-based utility-scale solar developer and parent company of Rayos, for its Rayos Del Sol Solar Project (the "Project").

The deal provides the Cameron County, Texas-based Project with end-to-end operations and maintenance support. From planned maintenance programs to support long-term asset fulfillment, to responsive services such as troubleshooting, emergency response and quality assurance, Spark Power offers value-added services to renewable energy generation asset owners.

"At Spark Power, we're all thrilled about this new relationship with the team at Rayos and the community in Cameron County," said Richard Jackson, President & CEO, Spark Power. "Rayos' mission to help supply Texas with clean, sustainable energy is vitally important, and Spark Power's commitment to industry-leading facility management, asset operation and maintenance services is an extension of that mission."

The Rayos del Sol Solar Project is designed to have an electricity output potential of 180 megawatts (MW_AC) - equivalent to powering more than 34,000 homes with green energy.

"We are proud to support Texas' renewable energy goals, and we are excited to work closely with Cameron County to be a good neighbor in their communities," said Henry Yun, CEO and President, 174 Power Global. "Thanks to the O&M agreement with Spark Power, our team can focus on maximizing the value of the Rayos Del Sol Solar Project with the support of our trusted partner in power."

Green electricity and renewable energy certificates from the Project will be sold to Constellation, an Exelon company, which provides clean energy to largescale commercial manufacturers, including Kimberly-Clark, Hewlett Packard Enterprise, and Manheim, a Cox Automotive brand. By providing energy to these manufacturers, more electricity will be in the grid for individual consumers.

"I am excited and grateful to work closely with the 174 Power Global and Total Energies team on the Rayos Del Sol Project," said Taylor Williamson, Director, Solar Operations, Spark Power. "We look forward to contributing to this asset's operational success."

Click here to learn more about Spark Power's Statement of Qualifications.

About Spark Power
The Spark Power group of companies are a leading independent provider of end-to-end electrical services, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America. We work to earn the right to be our customers' Trusted Partner in Power™. Our highly skilled and dedicated people, located in the communities we serve, combined with our knowledge of the power industry, technology expertise, and commitment to safety, ensures we deliver the right solutions that keep our customers' operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.

About 174 Power Global
174 Power Global is a leading solar and energy storage company that is wholly owned by the Hanwha Group, with offices in NYC and in California. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors, and other partners to build highly productive, utility scale and solar power plants and energy storage facilities throughout North America. Since its formation in 2017, 174 Power Global has signed nearly 2 gigawatts (GW) of power purchase agreements and has more than 6 GW of additional projects in the development pipeline. 174 Power Global's name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment. For more information, visit www.174PowerGlobal.com

Media Inquiries:
For Spark Power
Bryan Sparks
Manager, Corporate Communications and Brand
media@sparkpowercorp.com

For 174 Power Global
Brian Armentrout
Sr. Marketing Director
brian.armentrout@174powerglobal.com

SOURCE: Spark Power Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/709717/Spark-Power-Secures-Long-Term-Agreement-With-Rayos-del-Sol-Solar-Project-in-Southern-Texas

FAQ

What is the significance of Spark Power's O&M agreement with 174 Power Global?

The agreement enhances Spark Power's service portfolio and supports the Rayos Del Sol Solar Project's operational success.

How much electricity can the Rayos Del Sol Solar Project generate?

The project is designed to have a capacity of 180 MW, enough to power over 34,000 homes.

What role does Constellation play in the Rayos Del Sol Solar Project?

Constellation will purchase green electricity generated from the project, facilitating clean energy supply to manufacturers.

When was the O&M agreement with 174 Power Global announced?

The agreement was announced on July 26, 2022.

What are the key benefits of the O&M agreement for Spark Power?

It expands Spark Power’s operational footprint in the renewable energy sector and enhances its revenue opportunities.