Solar Power Inc. has selected McClellan Business Park as the site for its U.S. manufacturing facility, subject to the finalization of building agreements. The company has received an initial commitment of US$24.7 million in Recovery Zone Facility Bonds (RZFB) from Sacramento County and plans to use the proceeds from the sale of these bonds to help finance renovation and outfitting of the solar panel manufacturing facility.
A portion of the RZFB bond proceeds will go towards the development of a 10MW utility-scale photovoltaic solar system in Sacramento County with an estimated value of US$50 million.
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Governor Schwarzenegger said, “The addition of this renewable energy manufacturing facility is great news for Sacramento and the rest of the State because it will lead to more homes and businesses powered by sunshine while creating jobs in the clean-tech industry.”
The proposed manufacturing facility at the McClellan site will be approximately 100,000 square feet with an annual production capacity of 50MW of Solar Power, Inc.’s solar panels
“We are very excited to have one of the solar industry’s leaders select McClellan Business Park for its world headquarters and manufacturing operations,” said Ken Giannotti, senior vice president with McClellan Business Park.
Solar Power, Inc. expects to receive the bond proceeds and begin construction on the new headquarters and manufacturing facility in July 2010 for completion in early 2011.
For more on SPI’s plans, see the recent Chip Shots blog here.