US LS Power gets financing for 10-MW solar project

(ADPnews) - Sep 23, 2010 - US energy company LS Power Group said yesterday it had secured funding for its 10-MW solar power project in the Mid-Atlantic region of the US from Union Bank NA.

The company did not provide any financial details.

At the same time, LS Power said it had already agreed with US photovoltaic (PV) equipment maker SunPower Corp (NASDAQ:SPWRA) to design, build, operate and maintain the Dover SUN Park. SunPower will install its tracker systems and E19 solar panels at the site, which covers 103 acres (42 hectares).

Engineering activities on the project have already begun, with equipment purchases seen to start immediately, LS Power said. The plant is to be put on stream in the summer of 2011. All the facility's production has been contracted with the city of Dover, Delmarva Power and Light, Delaware Municipal Electric Corp and the Delaware Sustainable Energy Utility.

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