8minutenergy completes development of 200-MW California solar project

Feb 28, 2013 - US solar park developer 8minutenergy Renewables LLC said Wednesday it had completed development of a 200-MW solar farm in California and transferred its ownership to project partner AES Solar.

Approval for the construction of the Mount Signal Solar farm was granted in April 2012 and work on the project began in November 2012 after AES Solar, a joint venture of AES Corp (NYSE:AES) and Riverstone Holdings LLC, completed a USD-636-million (EUR 484m) financing for the project. Construction kicked off officially yesterday.

The solar farm will cover a surface area of 1,963 acres (794 ha) of low-productivity farmland and is expected to be completed in early 2014. It is the first phase of a larger project for the construction of a 600-MW photovoltaic (PV) plant in the area.

The Mount Signal Solar project is expected to generate enough electricity to power some 72,000 households and will operate under a 25-year power purchase agreement (PPA) with San Diego Gas & Electric (SDG&E).

(USD 1 = EUR 0.761)

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