18 December 2014

Invenergy closes financing and starts of operation of Soitec-powered Desert Green Solar Farm

Invenergy Clean Power LLC of Chicago, IL, USA, which develops, owns and operates large-scale renewable and other clean-energy generation and storage facilities in North America and Europe, has closed the financing and begun commercial operation of its 6.3MWAC Desert Green Solar Farm in Borrego Springs, CA, USA, about 90 miles northeast of San Diego. Construction on Desert Green began in April. Blattner Energy Inc served as general contractor and Westwood Professional Services performed engineering duties.

Originally acquired from Soitec Solar Development LLC, Desert Green features more than 3500 concentrator photovoltaic (CPV) modules made by Soitec of Bernin (Grenoble), France at its factory in San Diego. Invenergy obtained financing from PNC Energy Capital LLC, a subsidiary of PNC Bank, National Association. The plant’s output is sold to San Diego Gas & Electric (SDG&E) under a long-term power purchase agreement.

“We look forward to expanding our relationship with PNC to include future solar opportunities,” says Invenergy’s chief financial officer & chief operating officer Jim Murphy. “We’re also delighted to complete construction of our first power generation facility in California, and to have expanded our solar portfolio to include Soitec’s high-efficiency CPV technology,” he adds.

“Invenergy completing construction of its Desert Green Solar Farm and securing project financing from a premier capital provider to the renewable energy industry demonstrates the bankability of Soitec’s CPV technology,” comments Soitec’s CEO André-Jacques Auberton-Hervé.

See related items:

Soitec opens $150m San Diego factory to locally produce CPV modules

Tags: Soitec CPV

Visit: www.soitec.com

Visit: www.invenergyllc.com