This year, Actualize Solar signed five new long-term power purchase agreements (PPAs) with a major utility in the United States. Their current project portfolio includes more than 1.5 GW of capacity, spread across over 20 solar projects in six states in the Mid-Atlantic and Southeastern regions of the U.S.
Bob White, the Chief Development Officer of Actualize Solar, commented, “The signing of the new PPAs demonstrates our ability to meet the needs of our customers while advancing the goal for our project portfolio to be fully contracted. Last year, we signed three long-term PPAs for our utility-scale projects. We intend to keep our growth trajectory.”
Gintaras Sadauskas, the CFO of Actualize Solar, said in a statement, “We have assembled a top-notch team with over 70 years of project development and project finance expertise to ensure our projects successfully reach their commercial operation dates. We look forward to rapidly expanding our utility-scale solar portfolio in the US.”
“Our goal is to expand our portfolio to 2.5 GW by the end of 2026. The expected high growth rates of AI technology and data centers in the US will help ensure our projects will find their customers,” stated Mr. Ovchinnikov.
Vadim Ovchinnikov, the CEO of Actualize Solar, mentioned, “Our team’s successful track record is hinged on a disciplined, programmatic approach to renewable energy project development and ensuring all projects secure long-term contracted revenues from credit-worthy offtakers. With over $480 million of contracted revenues, we are excited to continue bringing high-quality solar projects to communities across the US and provide competitive solutions to utilities, local cooperatives, and corporate clients.”
