Constellation has completed an aggregate 5.7 MW solar generation project for Portland General Electric (PGE) in Lake County, Ore.
Constellation financed the solar power system and will own and operate it. In return, PGE will purchase all of the electricity generated at a fixed rate from Constellation under a 25-year solar power purchase agreement (PPA).
The project was supported in part through a grant from the Energy Trust of Oregon and abusiness energy tax credit from the Oregon Department of Energy. Through its PPA with Constellation, PGE did not have to commit upfront capital to build the project and retains the environmental attributes of the project to meet the State of Oregon's renewable portfolio standard requirements.
The project was co-developed by Obsidian Finance Group and Smart Energy Capital. Belectric Inc. provided engineering, procurement and construction services, as well as construction financing before Constellation acquired the project. Belectric will also provide operations and maintenance services for the project.
The system comprises more than 20,000 ground-mounted photovoltaic panels and is expected to generate approximately 10 million kWh annually.
