SunEdison has started construction on the 156 MW DC Comanche solar farm in Colorado, US, after securing $253m of financing for the project.
After completion, the solar plant is estimated to generate over 300 gigawatt-hours of energy per year, enough to power about 30,000 households in Colorado.
The plant, which is anticipated to be completed during the first half of next year, will reduce more than 478 million pounds of carbon dioxide emissions.
Xcel Energy’s subsidiary Public Service Company of Colorado will buy the energy generated from the project under a 25-year power purchase agreement.
The solar power plant will be financed via SunEdison’s $1.5bn non-recourse, First Reserve Warehouse. Wells Fargo is providing tax equity for the project.
Renewable Energy Systems Americas will manage the construction work at the site. SunEdison Services will operate and maintain the plant.
SunEdison executive vice president for EMEA and the Americas Paul Gaynor said: "The Comanche Solar project demonstrates SunEdison’s ability to deliver renewable energy at a price competitive with conventional resources."
Community Energy originally developed the Comanche Solar project, which was acquired by SunEdison in 2014.
SunEdison claims that the project will be the largest solar power plant east of the Rocky Mountains.