Chinese new energy technology company BYD continues to make inroads in the United States. The company has won a multi-million-dollar contract to supply 170-MW solar modules for PV power plant projects in the U.S
BYD will supply 170-MW solar modules to NextEra Energy, a US-based renewable energy project developer.
BYD completed several rounds of quality and performance tests to win the contract.
Speaking at the Solar Power International convention, Tom Zhao, Managing Director of BYD Solar Division, described how the development of BYD’s integrated PV and energy storage program, especially the commercial operation of the world’s first integrated PV and energy storage project in the UK, helped set the stage for the company’s recent breakthrough in the U.S.
“The U.K. project provided real proof that solar can provide power comparable with conventional energy sources,” Tom Zhao said. “BYD not only successfully enables the commercial operation of solar power we also are proactively exploring possibilities in wind power.”
Since its installation a year ago, BYD’s energy storage system powering the 60-MWh project in the UK has operated smoothly, responding quickly to the grid’s demand, matching over 99 percent of aggregate demand with five to six cycles every day. This frequency regulation project is the biggest of its kind in the U.K.
Tom Zhao added that BYD is also in discussions with several global new energy companies about introducing EV-charging infrastructure and other solutions to help create a zero-emission closed loop system, from power generation to energy storage for sustainable consumption.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million is now worth roughly $1.8 billion.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.