FTC Solar and Cat Creek Energy Announce 1-Gigawatt Tracker Agreement to Supply Landmark Renewables Project
09 August 2023 - 12:32PM
FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar
tracker systems, software, and engineering services and Cat Creek
Energy, LLC (CCE), a renewable energy Independent Power Producer,
today announced a multi-year, 1-gigawatt tracker supply agreement
to supply the PV solar portion of CCE’s multi-technology renewable
energy and water storage project, which is under development in
southwest Idaho.
Beginning in the fall of 2023, FTC Solar will supply solar
tracker equipment and services for the broader $1.5 billion new
solar and battery infrastructure CCE will build to fulfill its
recent agreement with Bayer, a global enterprise with core
competencies in the life science fields of health care and
nutrition. The long-term Structured Renewable Energy Credit (REC)
Purchase Agreement between Bayer and Cat Creek Energy supplies
1,400 GWh of clean energy annually – one of the largest long-term
corporate renewable energy agreements in the U.S.
"The agreement with FTC Solar will provide CCE with
high-quality, innovative tracker technology and a supply partner
willing to go the extra mile,” said John Faulkner, fourth
generation Idaho rancher and president of Cat Creek Energy. “We’re
pleased to be working with FTC Solar on multiple solar projects
that will bring clean energy, good jobs and increase the tax base
to our rural communities.”
“We’re thrilled to be a part of this landmark project,” said
Sean Hunkler, CEO of FTC Solar. “Our technology will support
multiple Idaho Solar and Battery facilities that allow one of the
world’s oldest and most respected companies to reduce its carbon
footprint and continues the development of CCE’s centerpiece energy
and water storage project.”
Tracker delivery in support of the projects is expected to begin
in late 2023 and be completed by the end of 2025.
The Cat Creek Energy & Water Storage Power Station is a
large-scale, eco-friendly water storage and fully integrated
multi-technology renewable energy project on 26,000 acres of
private ranch land in Elmore County, Idaho. At its centerpiece is
Off-Stream Pumped Storage Hydropower. The Project pairs the
existing federal Anderson Ranch Reservoir on the South Fork of the
Boise River with a new Upper Reservoir on private ranchlands. An
extensive floating solar facility is planned for the new upper
reservoir. Additionally, water, which could otherwise be lost
during spring run-off, is collected and cycled between the
reservoirs. A portion of the water storage is being slotted for
additional beneficial water usage for state and regional water
needs.
About FTC Solar Inc. Founded in
2017 by a group of renewable energy industry veterans, FTC Solar is
a leading provider of solar tracker systems, technology, software,
and engineering services. Solar trackers significantly increase
energy production at solar power installations by dynamically
optimizing solar panel orientation to the sun. FTC Solar’s
innovative tracker designs provide compelling performance and
reliability, with an industry-leading installation cost-per-watt
advantage.
About Cat Creek EnergyCat Creek
Energy conceives, constructs, and commercializes renewable energy
projects introducing cutting-edge technologies and methodologies
that enable customers, communities, the natural and built
environment, to benefit in the transition to a decarbonized
electrical grid. The CCEW Team delivered this landmark arrangement
with Bayer and continues to advance the most innovative Pumped
Storage Hydropower and Large Volume, Long Duration energy storage
project in the West, which will produce firm, yet flexible, clean
energy while adding critical new water storage for a rapidly
growing Idaho. For more information visit CatCreekEnergy.com.
FTC Solar Investor Contact:Bill
Michalek Vice President, Investor Relations FTC SolarT:
(737) 241-8618 E: IR@FTCSolar.com
Cat Creek Energy Contact:Peggy BeltroneT: (406)
781-9911E: pbeltrone@catcreekenergy.com
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thereto. Words such as “may,” “will,” “could,” “would,” “should,”
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press release contains statements about third parties and their
commercial activity. We have not independently verified or
confirmed such statements and have instead relied on the veracity
of information as provided to us by such third parties related to
such statements. You should not rely on our forward-looking
statements or statements related to third parties or their
commercial activities as predictions of future events, as actual
results may differ materially from those in the forward-looking
statements or statements related to third parties or their
commercial activities because of several factors, including those
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“Risk Factors” contained therein. FTC Solar undertakes no duty or
obligation to update any forward-looking statements or statements
related to third parties or their commercial activities contained
in this release as a result of new information, future events or
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