Constellation has completed the installation of a 5.7MW PV facility for Portland General Electric (PGE) in Lake County, Oregon, USA.
Constellation financed as well as owns and operates the PV array which was co-developed by Obsidian Finance Group and Smart Energy Capital. The project was also partly financed through a grant from the Energy Trust of Oregon and a business energy tax credit from the Oregon Department of Energy.
Belectric, meanwhile, provided EPC services and construction financing before Constellation acquired the project. Belectric will also provide operations and maintenance services for the project.
The PV facility is equipped with more than 20,000 ground-mounted PV modules which will help to generate around 10 million kWh of electricity every year. PGE will purchase and receive all of the electricity generated by the solar panels at a fixed rate from Constellation under a 25-year power purchase agreement (PPA).
As a result of the PPA, PGE did not have to commit upfront capital to build the project and retains the environmental attributes of the project to meet the state of Oregon’s renewable portfolio standard requirements.
“Portland General Electric is working hard to diversify its portfolio of renewable generating resources while maintaining a reliable supply of power for its customers,” said Jim Lobdell, PGE’s vice president for power operations and resource strategy.
“The project marks a significant addition to that effort, and will help us serve homes and businesses in our service area for years to come.”