The JV, GCL-SR Solar Energy, holds more than 1,100MW of photovoltaic development projects in its portfolio, primarily in the 5MW to 20MW size range proposed on 40 different sites secured across the US.
Under the terms of the JV, SolarReserve will be responsible for all aspects of project development, while GCL will oversee PV vendor selection, construction and long-term financing for the photovoltaic projects.
The JV, which will be headquartered in Santa Monica, California, expects to start construction on up to 400MW of photovoltaic projects in the near term.
SolarReserve CEO Kevin Smith said that this JV with GCL to develop distributed photovoltaic projects represents a natural fit for the company.
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