Digital Realty to buy power from freshly financed solar project in Texas
Solar plant. Photo by: First Solar (www.firstsolar.com)
US renewables developer and operator Pattern Energy Group LP has started building a 82.5-MW solar power plant in Texas after successfully completing its financing.
The company said in a statement today that ING Capital LLC provided construction and term project financing for the Phoenix solar project, while RBC Community Investments contributed tax equity. The exact size of the financing was not mentioned.
At the same time, data centres operator Digital Realty Trust Inc (NYSE:DLR) said it has sealed a 12-year power purchase agreement (PPA) for about 78% of the solar park’s future output. To be more specific, the company will buy the power generated by a 65-MW portion of the facility.
The solar plant is now being built at a site in Fannin County by Mortenson Construction. The project will utilise First Solar Series 6 modules and NEXTracker NX Horizon trackers. Its capacity in direct current (DC) will amount to 105 MW.
The solar park is seen to commence operations in mid-2021. Over its life, the plant will provide over USD 12 million (EUR 10m) in new tax revenue to the Bonham Independent School District and more than USD 3 million to Fannin County. Also, it will generate revenue for project landowners in the form of long-term lease payments.