Global Leader in International Renewable Industry News

posted in:

New Solar plant in El Centro, California starts operations

Thursday, Dec 12, 2013

Grupo T-Solar, one of the major independent power producers of photovoltaic solar energy based in Spain, has successfully completed its first photovoltaic solar plant in El Centro, California. The North American Development Bank (NADB) is providing a $65 million loan for the construction of this project.

“USA is one of the target markets for the growth of Grupo T-Solar and a key market of our long-term business strategy”

The plant, located in the city of El Centro (Imperial Valley, California), occupies 140 acres of land and will generate 55 GWh per year, equal to an energy consumption of more than 12,000 inhabitants. The sale of energy is regulated by a 30-year power purchase agreement with the utility company Imperial Irrigation District.

“USA is one of the target markets for the growth of Grupo T-Solar and a key market of our long-term business strategy,” said Marta Martinez, CEO of Grupo T-Solar.

The project in El Centro has required an investment of more than 75 million dollars and has been financed and supported by the international financial institution, NADB, as senior lender; Santander Bank NA, a subsidiary of Banco Santander, as Tax Equity Investor; Astris Finance, a financial advisory firm specializing in energy and infrastructure structured finance in the Americas, acted as financial advisor; and CCA Group, a FINRA-registered broker-dealer specializing in renewable energy, acted as advisor for the tax equity component.

Source: Business Wire

posted in:

Other Renewable News

SPI Solar announces amendment to agreement for Mountain Creek project 24-04-2014
Accenture to help Azure Power expand its solar generation business 24-04-2014
EPIA presents the Global Market Outlook for Photovoltaics 2014-2018 at Intersolar Europe 24-04-2014
Avianca Brasil and Byogy Renewables forge initiative to drive the global approval of Alcohol-to-Jet (ATJ) renewable jet fuel 24-04-2014
Intersolar North America strengthens focus on growing energy storage market 23-04-2014
GDF SUEZ Energy Resources NA again donates renewable energy certificates to the Houston Museum of Natural Science in Honor of Earth Day 23-04-2014
3M celebrates 10-year record of EPA ENERGY STAR sustained excellence award 23-04-2014
SolarWorld powers spread of grass-roots community solar purchasing from coast to coast 23-04-2014
Canadian Solar to supply 43MW of solar modules in Japan 23-04-2014
Nice-Pak products and PDI complete largest Rooftop solar array in Rockland County 22-04-2014