Under the terms of the agreement, FirstEnergy Solutions will purchase the facility’s 20MW output for 20 years.
Construction of the $70m Maryland solar farm project, to be located on 250 acres of state-owned correctional facility land near Hagerstown, is expected to begin by the end of the year, with completion scheduled for the fourth quarter of 2012.
The long-term purchase power agreement demonstrates that Maryland Solar will have a guaranteed source of revenue, a critical milestone for the project to obtain financing.
In addition, FirstEnergy Solutions will obtain the Renewable Energy Credits produced by the facility.
The solar power project is anticipated to be operational in 2013.
