The power project, which is currently under construction in Yuma County, has received all permits and approvals from both federal and state agencies.
The acquisition was contingent upon the financial closing of the facility’s loan guarantee from the Loan Programs Office of the US Department of Energy.
Construction of the solar facility is expected to be completed in 2014 and the electricity generated from this project will be sold to Pacific Gas and Electric Co under a 25-year agreement.
At full capacity, the project will generate enough electricity to power more than 225,000 homes and offset about 5.5 million metric tons of CO2 over 25 years.
