New Energy Solar acquired a substantial majority interest in two large-scale solar projects developed/designed by SunPower, totaling over 134 MW, located in Kern County, Calif. SunPower will retain an ownership interest in the projects, which each having a capacity of 67.4 MWs, and provide ongoing operation and maintenance services.
Stanford University has a long-term agreement to purchase 100 percent of the power, as well as the renewable energy credits (RECs), generated from one of the projects, the Stanford Solar Generating Station. Turlock Irrigation District (TID) has a similar agreement to buy the power and RECs generated from the second project, the TID Solar Generating Station.
“We believe the quality of these projects, both in terms of SunPower’s leading technology and their highly creditworthy off-takers make them excellent additions to our portfolio,” New Energy Solar CEO Tom Kline said. “We are proud to partner with SunPower, one of the most experienced and leading developers and operators of utility-scale solar power.”
Both Stanford University and TID will use the renewable power generated in Kern County to serve electricity demand approximately 300 miles away. Projects like these demonstrate the flexibility with which organizations can now take advantage of cost-effective solar power by using larger capacity off-site solar resources to reliably serve a greater percentage of demand.
At both sites, SunPower installed the SunPower Oasis Power Plant technology, a fully integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy large solar projects while maximizing power generation and optimizing land use. Construction of both projects commenced in the middle of 2015. Both facilities are expected to achieve commercial operation this month.
Have you checked out our YouTube page?
We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.
Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.
We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.