Lightway Solar America today announced 62.8MW of contracts through their project development subsidiary,Lightway Solar America Project Development.
Lightway has implemented a sales model in which 11.9MW of solar panels will be invested into these projects in exchange for equity positions with a commitment from their project partners to purchase the remaining 50.9MW through executed supply agreements.
The project pipeline consists of 11 different solar project development partners with a pipeline of US projects ranging from 250kW to 4.8MW spread throughout New Jersey,Massachusetts,New York,North Carolina,Arizona and California.Projects will begin construction immediately with 21MW scheduled for Q4 2012 and 42MW to be built throughout 2013.
In less than two years,Lightway's US subsidiary has already executed more than 98MW of supply agreements and is expecting their project development subsidiary to create additional growth opportunities in 2013.