GE Energy Financial Services, in partnership with Citi, Union Bank NA and Metropolitan Life Insurance Co., has completed an equity investment in EDF Renewable Energy's 143 MW Catalina Solar plant in California's Mojave Desert.
The investment group initially acquired a minority ownership stake in the project in late 2012. Following the launch of commercial operations in August of this year, the group purchased the remaining stake and converted the entire structure to a single investor lease. EDF Renewable Services is providing long-term operations and maintenance for the project. Financial details of the transactions were not disclosed.
Catalina Solar includes over 1.1 million thin-film solar photovoltaic modules from First Solar and Solar Frontier. The project's electricity is provided to San Diego Gas & Electric Co.