Elemental Energy closes finance for 17-MW solar park in Canada
The Brooks solar park in Alberta. Photo by: Elemental Energy (www.elementalenergy.ca).
Canadian firm Elemental Energy has achieved financial close on a 17-MW solar power project in the province of Alberta, it said on Wednesday.
The construction and term-debt financing was extended by the National Bank of Canada (TSX:NA). Elemental Energy is investing equity to build, own and operate the photovoltaic (PV) park.
The so-called Brooks Solar plant is currently being built in Newell County and will be the first utility-scale solar park in Western Canada following completion. Elemental Energy expects to put the facility on stream by the end of this year. It will sell the generated electricity under a power purchase agreement (PPA) with an unnamed corporate offtaker, it said.
Following a competitive request for proposals (RfP) by Emissions Reduction Alberta (ERA), the park was selected to serve as a demonstration site for the advantages and performance of large-scale solar power in Alberta. ERA is a contributing partner on the project.
Chinese solar manufacturer JinkoSolar Holding Co Ltd (NYSE:JKS) recently said it will supply more than 48,500 Mono PERC modules for the Brooks Solar plant.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.