Tiendas Soriana S.A. de C.V. and Hanwha Q CELLS announced on March 26th a 20-year Power Purchase Agreement (PPA) for 31 megawatts (MW) of photovoltaic (PV) solar power at 120 retail locations across Mexico that will create significant long-term energy savings for Soriana. The agreement lays the foundation for a long-term partnership, which could lead to new installations at additional Soriana stores in the future.
Hanwha Q CELLS will partner with Mexican company ILIOSS to install rooftop and carport systems in Soriana's stores in Mexico City and the states of Mexico, Jalisco, Querétaro and twelve others. Soriana will reduce a significant portion of their energy demand by using onsite solar power while fixing its long-term energy cost. Hanwha Q CELLS will finance all 31MW.
Hanwha Q CELLS and ILIOSS have already begun construction on the first seven solar systems in Baja California Sur, which will feature more than 12,000 German engineered Q CELLS Q.PRO-G3 250W panels to provide approximately 3.05 megawatts of combined generation capacity. Construction on all 120 sites is expected to be completed by early 2015.
"With great solar resources and a positive investment outlook, Mexico is a prime growth market for Hanwha Q CELLS," said Moon Hwan Cha, Hanwha Q CELLS USA President. "The robust financial standing of the Hanwha Group allows Hanwha Q CELLS to establish long-term partnerships with customers in key markets like Mexico and other emerging markets in Latin America."
"With this association Hanwha Q CELLS, Soriana and ILIOSS join forces to provide the most advanced technology to obtain clean energy at preferential costs. This project allows Soriana to meet both its sustainability and cost saving goals" said Aurelio Adán, CFO of Soriana.
