November 20 (Renewables Now) - Canada’s Innergex Renewable Energy Inc (TSE:INE) on Tuesday said that the commissioning of its 250-MW Phoebe photovoltaic (PV) farm in Texas has been concluded.
The Phoebe solar park, which consists of 768,000 First Solar panels grouped in seven blocks with a total direct current (DC) capacity of 315 MW, is currently the biggest solar plant in operation in Texas, Innergex said.
The facility is expected to produce enough electricity to supply over 50,000 households a year. It is to sell 89% of the power it generates to Shell Energy North America at a fixed price under a 12-year power purchase agreement (PPA), with the remaining 11% receiving a merchant market price.
The solar farm's construction costs are estimated at a total of USD 397 million (EUR 359m). It qualifies for a 30% federal Investment Tax Credit (ITC).
(USD1.0 = EUR 0.90)