On September 30th, 2011, Exelon Corporation (Chicago, Illinois, U.S.) announced that it has acquired the Antelope Valley Solar Ranch One, a 230 MW solar photovoltaic (PV) project, from First Solar Inc. (Tempe, Arizona, U.S.).

First Solar will continue to build the plant, and will also be responsible for operations and maintenance upon completion. The announcement of the purchase comes on the same day as the U.S. Department of Energy (DOE) finalized a USD 646 million loan guarantee to support the project.

“This project reinforces Exelon’s industry-leading clean energy position, creates shareholder value and gives Exelon real scale in solar power,” said Exelon Chairman and CEO John W. Rowe.

“As the nation continues its transition to a clean energy future, our experience with AV Solar Ranch One will give us a clear competitive advantage.”

Full commissioning planned for 2013

Construction has begun on the plant, and First Solar expects to commission the first portion of the site in late 2012, with full operation planned for 2013.

The plant will be comprised of First Solar FS Series 3 cadmium telluride PV modules, as well as First Solar tracking systems.

The plant is located on 8.50 square kilometers of fallow farmland near Lancaster, California. Exelon estimates that 400 construction jobs will be created in the building of the plant.

Electricity to be sold to PG&E

Electricity generated by the plant will be sold to Pacific Gas & Electric Company (PG&E, San Francisco, California, U.S.) under a 25-year power purchase agreement.

Exelon expects to invest USD 713 million in equity in the project through 2013, for a total investment of USD 1.36 billion.

2011-10-04| Courtesy: Exelon Corporation; Image: First Solar Inc. | solarserver.com © Heindl Server GmbH

Our editorial selection of breaking solar news is published at:
www.solarserver.com/solar-magazine/solar-news/top-solar-news.html