Parliament Solar, an EnCap and Mercuria Portfolio Company, Selects Ideematec to Supply its Tracking System for Parliament’s 640MW Texas Solar Project
13.6.2023 21:45:00 EEST | Business Wire | Press release
Ideematec Inc., a leading provider of utility-scale solar tracking systems, today announced its agreement with Parliament Solar, LLC (“Parliament Solar”), the initial asset for Parliament Energy Holdings LLC (“Parliament Energy”), to deliver 640 megawatts (MW) of Ideematec’s Horizon L:TEC® 1P solar tracking system in Texas. Parliament Solar is a portfolio company of EnCap Investments L.P. (“EnCap”) and Mercuria Energy (“Mercuria”).
Ideematec’s Horizon L:TEC® 1P is a market-leading solar tracking system designed to maximize the efficiency of large-scale solar systems. The system is based on a patented decoupled drive technology and Ideematec’s innovative locking system for maximum stability and the lowest possible maintenance requirements.
“We are excited to begin our deliveries to Parliament Solar. Beyond advancing clean energy adoption in Texas, projects of such magnitude are vastly accelerating the North American energy transition. Ideematec has shipped over 5GW of its award-winning trackers worldwide and our participation in the Electric Reliability Council of Texas (“ERCOT”) region underscores our competitiveness within the U.S. utility-scale market. Our product delivers optimized solutions to overcome technical challenges, whether it is hurricane wind speeds, difficult terrain, or expansive clay soils. We look forward to working with all participating parties to supply GWs of our advanced Horizon L:TEC® product into additional projects. Ideematec’s entire team is proud to reach this crucial step within our global expansion strategy,” said Philipp Klemm, CEO of Ideematec, Inc.
Alan Stringer, COO at Solar Proponent LLC (“SolarPro”) stated: “Ideematec supplies a world class product, provides consistent pricing transparency, and has demonstrated the ability to work together to manage commodity and freight risk.” SolarPro, an EnCap and Mercuria portfolio company, is a solar development company with approximately 7GW of projects under development and is providing construction management services to Parliament Solar.
“The flexible configuration and locking technology of our Horizon L:TEC® tracker is an ideal combination for the demanding environments throughout Texas,” said Mario Eckl, CEO of Ideematec. “Ideematec’s patented technology provides the highest additional gains, optimizes overall yields, and improves the lifetime performance of a solar tracking system. We congratulate our North American team, Ideematec Inc., on their successful partnership with Parliament Solar and their overall expansion into the Texas market.”
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 24 institutional investment funds totaling approximately $40 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by four Managing Partners, each with 30-35 years of experience in the development and operations of renewables and power generation. For more information, please visit www.encapinvestments.com.
About Mercuria Energy
Established in 2004, Mercuria is one of the world's largest independent energy and commodity groups, revolutionizing the commodity value chain through technology, expertise, and low-carbon solutions. The company has firmly positioned itself as a leader in the energy transition, with over 50 percent of its new investments directed towards renewables and transitional energy. Mercuria has made substantial contributions to projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling, and environmental products, showcasing its dedication to a sustainable future. For more information, visit www.mercuria.com.
About Parliament Energy Holdings LLC
Parliament Energy Holdings LLC ("Parliament Energy”) is a partnership between EnCap and Mercuria that will develop, own, and operate renewable energy assets and co-located energy infrastructure such as battery energy storage. Parliament Energy’s initial asset is Parliament Solar, a utility scale solar asset (640MWdc / 480MWac) in the Houston Zone of the Electric Reliability Council of Texas (“ERCOT”). Once operational, Parliament Solar will generate low-cost electricity to power the equivalent of 130,000 homes in the Houston metro area. The project will displace 672,000 metric tons of CO2 annually compared to emissions of conventional power plants. Waller County and Waller Independent School District will benefit from substantial tax revenues and payments from the project. Parliament Energy expects to utilize a workforce of 300+ jobs during the two-year construction period and provide five full-time jobs during operation, with the aim of hiring locally. Parliament will seek to pursue conservation and environmental impact projects on site in coordination with the local community. For more information, visit www.parliamentsolar.com.
About Solar Proponent LLC
SolarPro is an EnCap Investments portfolio company. SolarPro’s mission is to leverage the enormous potential of solar power to create sustainable electricity infrastructure. With decades of combined experience in the energy sector, the SolarPro team is focused on building value for investors, communities, and landowners through responsibly developed solar generation projects. For more information, visit www.solarproponent.com.
About Ideematec
Ideematec is a German-based provider of high-performance solar tracking systems, with its North American headquarters in Arizona. The group is backed by 14 years of global tracker expertise and an international track record of over 5GW. Ideematec’s flexible tracker design offers easy installation, reliable operation, and high yields. Ideematec pioneered the 2P high-span safeTrack Horizon™ H4 tracker, powered by patented decoupled drive technology. Its successor, the L:TEC Horizon™, available in 1P and 2P, builds on this industry-leading innovation with patented technology that stabilizes the system by locking the trackers into place at each position. Both formats offer an industry-leading 15-year system warranty. For more information, please visit www.ideematec.com.
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Contact information
Ideematec, Inc.
Ashley Gonzales, Senior Operations Manager
a.gonzales@ideematec.com
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