◇ Samsung C&T disposed of its 150 MW solar power project assets to a private developer in the U.S. 

◇ The company also signed a development service agreement and is to engage in such pre-NTP processes as license acquisition, etc. 

Samsung C&T Renewables, a U.S. renewables subsidiary of Samsung C&T Trading & Investment Group (hereinafter “Samsung C&T”), disposed of its 150 MW solar power development project assets based in Fayette County, Illinois to NorthStar Clean Energy Company (NSCE), a private investor focused on renewables development.

Furthermore, Samsung C&T signed a development service agreement (DSA) with NSCE on engaging in the pre-NTP development processes including assessment, licensing, etc. The newly signed agreement not only gives the company an additional solid revenue stream but also diversifies Samsung C&T's solar power business portfolio as it has demonstrated its strong competence in the field of renewables development.

Under the DSA, Samsung C&T will perform a wide array of duties from greenfield solar project planning, site and land control acquisition, grid connection to license acquisition. The combined capacity of solar power assets that are to be developed by Samsung C&T under the deals signed throughout this year amounts to 3,000 MW.

Samsung C&T is actively strengthening its eco-friendly business portfolio on the back of various experiences and know-hows it has accumulated through its energy resource trading business. Amid such efforts, the solar power development business that is witnessing robust performance holds much significance for the company. Moreover, the company strives to diversify its business scope and markets by broadening its focus to energy storage system (ESS) and establishing another local subsidiary, Samsung C&T Renewable Energy Australia, in September 2022.