Duke Energy finalizes financing for huge Texas solar project | KEYE Austin - Green Right Now
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Jun 092010
Construction continues on Duke Energys solar installation in San Antonio.

Construction continues on Duke Energy's solar installation in San Antonio.

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.