Blue Earth, a US-based renewable energy and energy efficiency firm, has agreed to develop six solar photovoltaic (PV) projects in New Jersey, for around $20m.
As per the agreed terms, Blue Earth’s unit Xnergy will design and build the solar PV projects, with a cumulative installed capacity of around 12.6MW.
The engineering, procurement and construction (EPC) services at the proposed projects is anticipated to begin in third quarter of 2013 and will be completed in the first quarter of 2014.
Commenting on the deal, Blue Earth CEO Johnny Thomas said that the proposed solar projects are anticipated to generate around $26m in EPC revenues for the company over the next nine months.
"Management anticipates concluding negotiations for additional solar EPC contracts of similar size, and they are expected to begin construction during this fiscal year," added Thomas.
Xnergy is a full-service engineering, procurement and construction firm, which has engineered, installed, and/or commissioned around 100MW of traditional and alternative energy systems.