SkyPower Enters into Agreement with BYD to Submit Joint Bid for 750 MW of Solar Energy Development in India
VANCOUVER, May 13, 2016 /PRNewswire/ — SkyPower is pleased to announce it has entered into an agreement with BYD to submit a joint bid in the upcoming tenders for solar power generation capacity and energy storage of up to 750 MW in India.
The agreement was signed during the opening ceremony of the China-Canada Economic and Trade Cooperation Conference in the presence of Hu Chunhua, Party Secretary of China’s Guangdong Province. The conference, hosted by British Colombia Premier Christy Clarke, was aimed at strengthening the socio-cultural and economic ties between China and Canada.
“SkyPower, an industry leader in the development of large-scale solar energy projects, is excited to work with BYD, a global leader in battery technology, to bring together a highly-competitive bid for low-carbon, clean technology solutions,” said Charles Cohen, SkyPower’s Chief Commercial Officer, Commercial Strategy and Development.
The joint venture will draw upon SkyPower’s vast global experience and its proprietary development platform to develop clean energy solutions in India at truly market-competitive rates, while ensuring the highest quality construction and world-class execution. BYD’s award-winning environmentally-friendly battery storage technology, in concert with SkyPower’s wealth of experience in developing utility-scale solar projects, will enable a significant solar implementation strategy in India.
BYD is headquartered in Guangdong, China’s most populated province, accounting for more than twenty-five percent of China’s foreign trade. “We are thrilled to join forces with like-minded visionary leaders at SkyPower,” stated Stella Li, Senior Corporate Vice President of BYD. “BYD is the global leader in reliable, efficient battery storage and solar technology, and we are committed to providing affordable, sustainable energy solutions that not only help countries recover economically but also help reduce air pollution caused by traditional, dirty fossil fuels.”
The Government of Guangdong continues to invest in clean energy mass transit solutions to help address the environmental objectives of China’s 13th Five-Year Plan.
SkyPower is the largest and one of the most successful developers and owners of utility-scale solar energy projects in the world. With roots dating back more than a dozen years, SkyPower’s global team possesses a vast track record of over 900 years of combined experience in power and large infrastructure projects.
The experienced and accomplished SkyPower team has built, assembled and acquired an extensive pipeline of over 25 GW worldwide – 9 GW of which were recently announced in bilateral agreements, and other contract awards, to be built in the Middle East, Africa and Southeast Asia over the next five years.
SkyPower’s over 30 utility-scale solar Power Purchase Agreements (PPA) and Contracts in aggregate represent well in excess of approximately US $80 billion worth of long-term renewable energy sales to leading utilities and governments around the world.
SkyPower is majority owned by CIM Group, a U.S.-based real estate and infrastructure investment firm founded in 1994 that has systematically and successfully invested in dynamic and densely populated communities throughout North America.
BYD Company Ltd. is one of China’s largest companies and has successfully expanded globally. Specializing in battery technologies, their green mission to “solve the whole problem” has made them industry pioneers and leaders in several High-tech sectors including High-efficiency Automobiles, Electrified Public Transportation, Environmentally-Friendly Energy Storage, Affordable Solar Power and Information Technology and Original Design Manufacturing (ODM) services.
As the world’s largest manufacturer of rechargeable batteries, their mission to create safer and more environmentally friendly battery technologies has led to the development of the BYD Iron Phosphate (or “Fe”) Battery. This fire-safe, completely recyclable and incredibly long-cycle technology has become the core of their clean energy platform that has expanded into automobiles, buses, trucks, utility vehicles and energy storage facilities. BYD and all of their shareholders, including the great American Investor Warren Buffett, see these environmentally and economically forward products as the way of the future.
BYD has made a strong entrance to the North, Central and South American markets with their battery electric buses, and lineup of automobiles. Their mission lies not just in sales growth, but also in sociological integration and local job creation as they have poured incredible investments into developing offices, dealerships and manufacturing facilities in the local communities they now call home, truly a first for Chinese companies.
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