Samsung C&T’s Trading & Investment Division announced on Sept. 14 that its U.S. renewable energy subsidiary, Samsung C&T Renewables, has signed a sale and development service agreement for a 3 gigawatt (GW) solar and energy storage system (ESS) project in southern Texas with Sunraycer Renewables, a local renewable energy development and investment company.
Samsung C&T will sell 15 early-to-mid-stage development projects in Texas (6 solar projects of approximately 1 GW and 9 ESS projects of approximately 2 GW) to Sunraycer. They will also provide various development services, including assessments and permits required before the construction of the solar power plant.
Sunraycer specializes in acquiring and co-developing renewable energy assets in the US. The 3 GW capacity of these projects can supply power to about 600,000 households annually based on U.S. standards. The entire project area spans roughly 6,100 acres, equivalent to 3,450 soccer fields or about 8.5 times the size of Yeouido.
Samsung C&T emphasized the significance of strengthening its stable business growth foundation by continuously forming long-term cooperative relationships with local energy experts across the U.S. Both parties aim to start commercial operations around 2025-2026 and plan to further expand their cooperation in the U.S. market.