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A 5MW solar farm in Pennsylvania has been acquired by an affiliate of D. E. Shaw Renewable Investments and project manager Bright Plain Renewable Energy.
The solar farm was developed by Community Energy Solar in Lancaster County, with power generator Exelon Generation contracted the project’s electricity output under a long-term power purchase agreement. groSolar, a commercial and utility-scale solar engineering, procurement and construction firm, acted as the turnkey EPC contractor.
Nearly 20,000 Canadian Solar 290W solar modules are installed on fixed-tilt, ground-mounted aluminium racking provided by Schletter and will be interconnected to the PPUL Electric grid at 12kV with AE inverters and platforms.
“Keystone Solar represents an on-going effort by BPRE to enable the success of solar developers by providing knowledgeable, cost-competitive and reliable capital to solar projects at the start of construction,” said BPRE CEO David Buzby.
According to estimates by the US Environmental Protection Agency, the project will produce enough renewable power to avoid 5,726 tons of carbon dioxide emissions per year, equivalent to removing over 1,193 cars per year from Pennsylvania’s roads.
The acquisition was arranged by BPRE and financed with senior debt from KeyBank.