From Green Right Now Reports
Duke Energy Generation Services said it has secured $45 million in funding for the largest photovoltaic project in Texas — the 14-megawatt Blue Wing Solar Project now under construction in San Antonio. Duke said Prudential Capital Group provided the 25-year loan.
When completed later this year, Blue Wing will consist of 214,500 ground-mounted First Solar thin-film panels for 16-megawatts of direct current.
“This financing is another important milestone for Duke Energy as we continue to build a portfolio of high-quality commercial renewable power projects,” Greg Wolf, DEGS senior vice president for business development, said in a statement.
DEGS, a Duke Energy Commercial Businesses unit that owns and develops renewable power assets, purchased the 139-acre project from Boulder, Colo.-based juwi solar in the first quarter of 2010. Juwi solar is the construction contractor for the project. The acquisition came with a 30-year power purchase agreement to sell all of the output from the solar farm and associated renewable energy credits to San Antonio-based CPS Energy, one of the largest municipality-owned utilities in the U.S.
Blue Wing will be DEGS’ second commercial PV solar project. The company already owns and operates a 1-megawatt (MW) solar farm in Shelby, N.C.