SunPeak Solar Park 2 receives $41 million loan by the North American Development Bank
The project, expected to generate electricity equivalent to the annual consumption of approximately 7,200 households, consists of designing, building and operating the 20 MWAC solar park using polycrystalline photovoltaic modules with a capacity of between 295 and 305 watts each. It also includes the construction of a 92-kV overhead transmission line to interconnect with the Niland Substation. The plant will be constructed on 159 acres of leased land located within the irrigation district and adjacent to the first SunPeak project.
“We are pleased to collaborate again with SunPeak Solar in the financing of this second plant”, stated Geronimo Gutierrez, NADB Managing Director. “The success in the operation of the first plant, which is generating 5.5 % more energy than originally expected since commercial operations started in 2012, made the Bank’s decision to provide a second loan to SunPeak easy”.
The project was certified by the Border Environment Cooperation Commission (BECC) in March 2014, and once in operation it is expected to help with the displacement of over 12,748 metric tons/year of carbon dioxide (CO2) and 19 metric tons/year of nitrogen oxides (NOx).
To date, NADB has provided close to US$409 million in loan financing for 13 solar projects in Arizona, California and Texas. When completed, these projects will have a total installed generation capacity of 171 MW.