◇ Samsung C&T agrees to new deal to develop solar power and ESS projects in the U.S.

◇ A total of 15 projects are expected to power up to 600,000 households in the U.S.

Samsung C&T Renewables, a U.S. renewables subsidiary of Samsung C&T Trading & Investment Group (hereinafter "Samsung C&T"),'s renewables subsidiary in the U.S., signed an agreement with Sunraycer Renewables (hereinafter "Sunraycer"), a US based renewables development and investment company, on sale and development of a 3GW solar PV·ESS projects based in Texas, U.S.

Under the agreement, Samsung C&T completed sales and development transaction of 15 solar power projects in the early to mid-phase of development. Out of the 15 projects, six are solar PV and Storage paired projects with a combined capacity of around 1GW and nine are stand-alone energy storage system (ESS) projects, totaling around 2GW. Following the Portfolio sale of assets, Samsung C&T is to continue leading pre-NTP development activities of the projects. 

The contracted 3GW project has the potential to power approximately 600,000 households in the U.S. throughout a year. The solar farm spans an area of 6,100 acres, which is about the size of 3,450 soccer fields combined.

The newly signed deal with Sunraycer holds much significance for Samsung C&T as the agreement cements a stronger foundation for the company's solar power in the leading U.S. market.

The two companies plan to proceed with the project development with an aim of having the projects up and running between 2025 and 2026 and to expand the bilateral cooperation in the U.S. market moving forward.