seekingalpha.com
August 06, 2009
SunTech Power (STP) has won the deal to supply 5 MWs worth of solar panels for Recurrent Energy's project at the Sunset Reservoir in San Francisco. The 5-MW project has received a lot of limelight because it would be the largest municipal project for the city, which plans to buy electricity from Recurrent. San Francisco-based Recurrent will own and operate the project.
The project's approval wasn't without controversy. The San Francisco Board of Supervisors voted 7–4 to greenlight the 25-year purchase agreement in May. Some board members worried that the city would be locked into rates now that would be considerably higher years from now, when solar energy should be much cheaper to produce.
SunTech said it plans to deliver the solar panels in the fourth quarter of this year. The project would require about 25,000 of them. China-based SunTech's American subsidiary is based in San Francisco. Recurrent and SunTech didn't disclose the financial terms of the deal. The project is scheduled for completion in 2010. When it's up and running, the project would increase the city's own solar energy output from 2 MWs to 7 MWs.
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