Recurrent Energy, a wholly owned subsidiary of Canadian Solar, has reached commercial operation of the adjacent 100 MW Astoria and 75 MW Astoria 2 solar projects in Kern County, Calif.
“With the help of our trusted partners, the Astoria projects will power more than 40,000 homes with clean energy,” says Dr. Shawn Qu, chairman and CEO of Canadian Solar. “These projects, which began operating in late 2016, are part of Recurrent Energy’s milestone 1.2 GW 2016 project portfolio.”
GE Energy Financial Services, a unit of GE, provided a tax equity investment for both projects. Financing for the Astoria project was announced in November 2015, and a financing announcement for the Astoria 2 facility followed in January 2016. Both projects employ GE’s solar inverter technology.
“It has been a pleasure to work with Recurrent Energy on the Astoria projects and see them through commercial operation. As we continue to invest over $1 billion annually in the U.S. renewable energy market, well-developed assets such as the Astoria projects are critical to our success,” comments Kevin Walsh, managing director and head of renewables at GE Energy Financial Services.
Pacific Gas and Electric Co. will buy electricity and associated renewable energy credits (RECs) generated by the Astoria project under a long-term power purchase agreement (PPA). Electricity and associated RECs from the Astoria 2 project will be purchased by the the Southern California Public Power Authority and four of its members (the cities of Azusa, Banning, Colton and Vernon), the Power and Water Resources Pooling Authority, and the cities of Corona, Lodi, Moreno Valley and Rancho Cucamonga.