Gemini Solar Development Company LLC has been chosen to build a 30 MW photovoltaic solar power plant for Austin Energy, a municipal electric utility in Austin, Texas.
This solar power plant will be built on 300 acres of city-owned land located approximately 25 miles east of Austin. Totaling 30 MW, the solar array will be operational by the end of 2010.
Gemini Solar is a joint venture between Suntech Power Holdings Co. Ltd. and financier and developer MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity LLC. Gemini Solar will own and operate the solar power plant and sell the electricity to Austin Energy under a 25-year non-escalating power purchase agreement. Suntech's solar panels will be installed in the 30 MW power plant.
SOURCE: Suntech Power Holdings Co. Ltd.