NADB to finance 19.5 MW of solar projects in California

Oct 10, 2013 - The North American Development Bank (NADB) said yesterday it would extend USD 50.8 million (EUR 38m) for the development of 19.5 MW of solar park projects in California.

The given capacity of the projects is in Direct Current (DC).

NADB has signed four loan agreements that will finance the construction of four solar parks in California’s San Diego county, sponsored by Macquarie Infrastructure Company Solar LLC. The project features two photovoltaic (PV) facilities with a combined capacity of 10.2 MW and two more systems of 9.3 MW in total. All of the systems will be powered by polycrystalline modules, mounted on single-axis trackers. When up and running, the plants are estimated to produce enough electricity to satisfy the needs of about 5,570 homes, offsetting over 9,900 tonnes of carbon dioxide (CO2) each year. Their output will be sold to utility San Diego Gas & Electric Company (SDG&E), part of Sempra Energy (NYSE:SRE).

NADB has extended USD 369.4 million in loans for the construction of 11 utility-scale solar farms of 110.2 MW in total in the states of California, Arizona and Texas, the lender noted.

(USD 1.0 = EUR 0.741)

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