8minutenergy and Capital Dynamics have formed collaboration for the construction of a 328MW Mount Signal 3 project, which will be located in Imperial Valley in the US state of California.
This is the third phase of the 800MW Mount Signal solar farm, which is considered to be one of the largest solar projects in the world.
Mount Signal 3 was acquired by Capital Dynamics from 8minutenergy, which will continue as the project developer. Financial terms of the acquisition have not been disclosed. And the transaction is expected to be completed by the end this month.
The development of Mount Signal 3 was started by 8minuteenergy in 2011 and had completed all the procurement and construction contracts. The engineering, procurement and construction (EPC) contract was given to Mortenson Construction, which will deploy between 300-400 people during the construction phase.
Panels for the solar farm will be provided by First Solar, which will supply about 2.8 million Series 4 thin film panels. Power generated from the solar farm will be supplied to Southern California Edison (SCE). A power purchase agreement has been signed in this regard back in 2014.
8minutenergy CEO and Founder Martin Hermann said: “As the original developer of the Mount Signal Solar Farm, we successfully built the 260 MW-dc Mount Signal 1 project, and brought it online in 2013. We are thrilled to bring Mount Signal 3 to fruition, which is the largest in 8minutenergy’s history.
“It’s our mission to deliver abundant and affordable clean energy, and we are certainly doing that with Mount Signal 3. Through our rigorous project development approach, we are going to once again be delivering solar power at cost-competitive rates to fossil fuels.”
Capital Dynamics Clean Energy Infrastructure (CEI) head John Breckenridge said: “We are proud to own the Mount Signal 3 solar project, and to deepen our relationship with 8minutenergy.
“With over 3 GW of renewable assets in our portfolio, we seek quality projects with teams that we can depend upon to deliver. This transaction is consistent with CEI’s strategy of long-term ownership of high-quality power generation assets in North America and Europe.”
Image: 8minutenergy to construct 328MW solar farm in California, US. Photo: Courtesy of 8minutenergy Renewables.