Canigou Capital has signed a co-development agreement for 1GWp with Solar Mountain Corporation LLC, a Colorado company which is working with the Ute Mountain Ute Tribe to develop a major concentrated photovoltaic solar energy system on tribal lands in New Mexico. The area in question is of high solar intensity, but which is still close to major power lines. The project is still in the early stages and more information will be available later in the year.
Canigou Capital has signed a co development agreement for 1GWp with Solar Mountain Corporation LLC, a Colorado company which is working with the Ute Mountain Ute Tribe to develop a major concentrated photovoltaic solar energy system on tribal lands in New Mexico. The area in question is of high solar intensity, but which is still close to major power lines. We will co-develop the first 1GWp in five phases of 200MWp as polycrystalline solar panels. This can be either a fixed system or a single or multi tracked system depending on the economics.
Canigou will provide the funding for the developing 1GWp of polycrystalline solar in northern New Mexico which will be around $2,500,000, which equates to about $2,500 per MWp. Based on our previous experience, and assuming that each stage of the development will take less than one year to reach Ready-to-Build (“RTB”), we further believe that the development rights value at RTB will be around $80,000 per MWp. This equates to a total value at RTB of $80,000,000.
Shine NMD Ltd is an investment vehicle set up to capitalise on the clear opportunities present in the USA solar market. Specifically, Shine NMD Ltd has partnered with a local developer and we will develop a minimum of four projects. We will commit funding to the projects only when a lease option has been agreed with a land owner, and we will work to progress them all the way to Ready To Build (RTB) status.
The estimated time to complete this project is 24 – 36 months.
Investment into the Shine NMD Ltd investment vehicle will be available soon. Please fill in the contact details at the bottom of this page and we will email you when this project is launched.
Shine NMD Ltd. is registered in England under Company Number 000000000 with principal place of business at 71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ
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