The North American Development Bank and SunEdison LLC have closed a $35 million loan for the construction of a 16 MW solar park at Davis-Monthan Air Force Base (DMAFB), southeast of Tucson, Ariz.
The electricity produced by the plant will be purchased by DMAFB under a 25-year power purchase agreement. Tucson Electric Power Company (TEP) will acquire the renewable energy credits (RECs) generated by the plant pursuant to a 20-year master REC agreement, aiding TEP in its compliance with Arizona's renewable energy standard.
The project will be constructed using 57,000 MEMC Silvantis solar modules mounted on single-axis trackers. It will interconnect to DMAFB on-site and is expected to generate sufficient energy to offset about 50% of DMAFB's electrical needs in its first year of operation.
The solar park will be built on approximately 144 acres and will be constructed pursuant to an engineering, procurement and construction contract provided by SunEdison. It is scheduled to come online in the fourth quarter of this year.