Fotowatio Renewable Ventures (FRV) has begun a major expansion of the Colorado State University (CSU) solar plant at the Foothills Campus. The 3.3 MW addition, which will be located adjacent to the 2 MW facility that opened in December 2009 on Chrisman Field, is expected to be completed within four months, according to FRV.
With the expansion, the entire project will generate a total of 8.5 million kWh of electricity annually.
FRV will own the solar facility and will be responsible for operating and maintaining it over the 20-year contract term. FRV and CSU have entered into a power purchase agreement thatÂ enables CSU to purchase the electricity produced by the plant at a fixed rate for 20 years, without any up-front cost to the university. The university also has the option to purchase the solar plant at the end of the 20-year contract for the fair market value. At that time, the university could claim the full value of the renewable energy credits (RECs) generated by the plant.
The project is part of the Xcel Energy Solar Rewards program. Xcel will purchase the RECs generated by the system in support of Colorado's renewable portfolio standard, which requires utilities to generate 30% of their power from renewable energy sources by 2020.
Global Energy Services will install the project as an FRV contractor. Advanced Energy, based in Ft. Collins, Colo., is supplying the inverters for the project.
SOURCE: Fotowatio Renewable Ventures