Wells Fargo & Co. has provided project financing for the El Chaparral solar farm, an 11.3 MW solar project developed by SunEdison LLC, a subsidiary of MEMC Electronic Materials.
Located in southern New Mexico near El Paso, Texas, this is the sixth SunEdison utility scale solar project funded by Wells Fargo in the past year. El Paso Electric Co. will purchase the power supplied by the project for the next 25 years under a power purchase agreement.
The El Chaparral project is situated on more than 140 acres of land and features more than 40,300 solar modules, including MEMC's Silvantis modules. The facility is designed to produce approximately 26 million kWh of energy annually.