CVE North America: A development that relies on carrying out our own projects, solid local partnerships, and acquiring ready-to-build projects
Our presence in the United States
In the United States, CVE has decided to specifically go after the states of New York and Massachusetts due to their policy goal of promoting renewable energy, high electrical rates, and the ability to sell the power produced to end clients through PPAs. For instance, the market is innovating with the Community Solar model, which enables residents of a given region to benefit from reduced rates for green electricity produced locally with no need to install solar panels on their roofs.
As a beneficiary of ambitious government programs to support the solar industry, CVE is preparing to develop innovative projects that benefit local residents. The SMART program in Massachusetts, for instance, combines electricity production and agricultural production on the same land through partnerships between CVE and local farmers. Likewise, New York State’s REV program encourages solar development through additional compensation as to the price of the electricity offered.
CVE also aims to benefit from the innovative technological hub of North America to feed its own technological development, particularly the combination of solar and batteries that offers new opportunities.
Development of CVE North America
CVE’s development in this promising market chiefly involves developing our own facilities, by establishing strategic partnerships and purchasing projects or assets. CVE has developed a local team experienced in solar power, enabling it to cover all development phases from site prospecting to the start of construction. CVE has forged solid relationships with specialized suppliers that operate in their area of expertise.
CVE Group intends to base its market penetration strategy on solid local partners, sharing with them the risk of development and construction. Cap Vert Energie’s strategy also involves acquiring ready-to-build projects, which make it possible to expand across the market faster.
CVE has already secured more than 7 solar installation projects in Massachusetts, totalling 36 MW, which are expected to be operational starting in 2019.
Most of the projects expected to reach completion in the years ahead will be “community solar” projects, while another strategic option will be to meet the demands of industrial or local government clients (municipalities, schools, hospitals, etc.).
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