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U.S. power producers in $6 bln plan to boost solar supply chain


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June 21 (Reuters) – A group of U.S. power producers on Tuesday have formed a consortium to spend about $6 billion to support expansion of the domestic solar supply chain.

AES Corporation (AES.N) said it had joined Clearway Energy Group, Cypress Creek Renewables and DE Shaw Renewable Investments in the U.S. Solar Buyer Consortium in an effort to address current supply chain issues.

The consortium will invest $6 billion as it seeks solar panel manufacturers in a long-term strategic plan to supply up to 7 GW of solar modules per year from 2024.

The United States as a whole installed about 27 GW of utility-scale wind and solar capacity last year, federal data shows.

GLJ

The U.S. Bureau of Land Management expects federal approvals to increase as it works to meet a Congressional mandate for 25 GW of additional wind and solar capacity by 2025, enough to power about 4.75 million homes. It expects approvals for more than 30 GW of wind, solar and geothermal capacity between fiscal 2022 and 2025, its said.

GLJ

U.S. President Joe Biden this month waived tariffs on solar panels from four Southeast Asian nations for two years and invoked the Defense Production Act to spur solar panel manufacturing at home.



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