Imperial Valley Solar Company 1, a subsidiary of SunPeak Solar, received a US$77.4 million loan agreement from the North American Development Bank (NADB), which will go towards the construction of a 23MW solar power plant in Niland, California. Fixed-tilt polycrystalline silicon PV modules will be installed over a 123 acres located in the Imperial Irrigation District (IID). The Border Environment Cooperation Commission (BECC) certified the solar project on June 6.
The project will see IID purchase 20MW of the energy produced by the solar plant. IID noted that last year, it had reached its highest peak demand of 1,104MW and therefore expects the solar park to potentially provide 1.2% of its total energy requirements.
“We have been working to build partnerships in the renewable energy sector, with both public entities and private companies and with the signing of this loan we are opening a new chapter in the evolution of the Bank that will help us move forward in the development of renewable energy projects,” stated NADB Managing Director Gerónimo Gutiérrez.