Large Texas photovoltaic project taking shape11 June, 2010
Friday, June 11, 2010 at 2:00:00 AM – by Danny Vo
A prominent U.S. utility has reported a financing deal for a large-scale solar project being developed near San Antonio, Texas.
According to Duke Energy Generation Services (DEGS), it has raised about $45 million by leveraging its ownership of the 14-megawatt Blue Wing Solar Project. The 25-year loan was provided by Prudential Capital Group.
“This financing is another important milestone for Duke Energy as we continue to build a portfolio of high-quality commercial renewable power projects,” said Greg Wolf, DEGS senior vice president for business development. “We’re demonstrating our capacity to deliver and execute on every aspect of a successful solar photovoltaic project, including the judicious deployment of Duke Energy’s capital.”
The Blue Wing project is expected to consist of 214,500 ground-mounted thin-film photovoltaic panels located on a 139-acre parcel of land. When complete, it will be the largest photovoltaic project in Texas.
DEGS purchased the project from Juwi Solar, a Colorado company that remains the construction contractor for it. The acquisition deal also included a 30-year power purchase agreement to sell generated power to CPS Energy of San Antonio.