October 29 (Renewables Now) - SunPower (NASDAQ:SPWR) has started building a 35-MW DC (29-MW AC) solar project to bring renewable power to Chevron Corporation’s (NYSE:CVX) Lost Hills oil field in California’s Kern County.
The solar panel maker said Tuesday Chevron will procure the electricity through a power purchase agreement (PPA) and receive environmental credits under the state of California’s Low Carbon Fuel Standard (LCFS) programme.
Renewable energy asset investor Goldman Sachs Renewable Power (GSRP) will own the new facility.
SunPower will deploy solar panels from its Performance Series for the Lost Hills project. The company estimates that the solar farm will produce more than 1.4 billion kWh for up to 20 year of the project's life.
Once fully running, the solar farm is expected to meet 80% of the power needed for production and processing facilities and offices at the Lost Hills oil field.
The project is due to be finalised in early 2020.