US Solar Fund Plc (LON:USF) today said the final project in its portfolio, the 128-MW Milford solar farm in Utah, reached commercial operation date (COD) on November 19.
The London-based fund said the milestone was achieved on time and under budget.
USF will book construction and development cost savings of about USD 4 million (EUR 3.4m) from the project and about USD 1 million stemming from pre-COD power sales.
Like the rest of the 41 projects in the portfolio, which has a combined capacity of 443 MW in direct current, Milford will sell electricity under a power purchase agreement (PPA). The solar farm has a 25-year PPA with PacifiCorp, a subsidiary of Berkshire Hathaway Energy.
The new plant was constructed by McCarthy Building Companies, with solar panels provided by First Solar Inc (NASDAQ:FSLR)
USF said it is on track to pay and cash cover the USD 0.055 (EUR 0.046) per share dividend it targets for 2021 in full.