Algonquin Power plans 10 MW solar park in California

Algonquin Power plans 10 MW solar park in California

27.11.2014: Canadian utility Algonquin Power & Utilities Corp. plans to build a 10 MW PV power plant adjacent to its Bakersfield I Solar project, a 20 MW solar park the company is currently building in Kern County, California. The 10 MW Bakersfield II Solar project has a signed 20-year PPA with an unidentified California utility and will be built at a cost of approximately $27 million. The 10 MW solar park will be located on 64 acres of land adjacent to the earlier project, which is on track to come online in the first quarter of 2015. The Bakersfield II Solar project will be funded with a combination of senior debt, common equity and contributions from tax equity investors, the latter of which will contribute approximately 40% of the capital costs. Construction of Bakersfield II Solar is due to begin in mid-2015 following receipt of local permits and finalization of necessary construction contract. Commercial operation is scheduled for the first quarter of 2016. © PHOTON http://www.algonquinpower.com http://www.snl.com/IRWebLinkX/file.aspx?IID=4142273&FID=26296226