The project sponsor Imperial Valley Solar Company 1 secured a $77.4m funding from the North American Development Bank (NADB) for the construction of the power plant.
NADB managing director Gerónimo Gutiérrez said the solar power project has special significance for the Bank since it marks the beginning of the Bank’s financing in solar energy in the US-Mexico border region.
"Since then and in just under a year, we have approved financing for three other renewable energy projects in Arizona and Tamaulipas, and there are two additional projects in Texas currently under consideration by our Board," Gutiérrez said.
The energy generated by the solar PV plant is enough to power around 14,000 homes.
The 20MW of energy generated by the solar park will be sold to the Imperial Irrigation District, which serves around 146,000 electricity customers in Imperial County and parts of Riverside and San Diego Counties.
