K Road Power has acquired the 25MW (AC) McHenry solar power project being constructed by SunPower Corp in Modesto, California, US.
SunPower is installing the SunPower Oasis power plant product at the site.
The photovoltaic (PV) power project will commence commercial operations in September 2012 and will receive operations and maintenance services from SunPower.
The Modesto Irrigation District will buy the electricity generated by the solar PV facility through a 25-year power purchase agreement.
The project will generate the equivalent amount of power for around 6,000 homes and the generated power will help the utility achieve California’s 33% renewable portfolio standard.
K Road arranged non-recourse construction and term project financing with a syndicate of three institutions.
Oasis is a modular solar power block, which integrates the SunPower T0 Tracker with SunPower’s high efficiency solar panels, pre-manufactured system cabling, the Oasis smart inverter, and the Oasis operating system.
SunPower Oasis also features the SunPower advanced Tracker Monitoring and Control System (TMAC) for wireless control of the power plant.