Solar manufacturer and developer, SunPower has begun construction of a 135MW solar power plant.
SunPower will own and operate the solar power plant while it is under construction, as part of its ‘hold co’ strategy, announced in April.
The ‘hold co’ strategy allows SunPower to realise the return on investment from the solar PV plant, reducing “the risk to potential buyers if we decide to sell the operational plant,” says SunPower president and CEO, Tom Werner.
The Quinto Solar Power plant will be located in Merced County, California supplying energy to south California utility, Edison under a Power Purchase Agreement (PPA).
During the construction of the 1,000 acre solar power plant, 295 jobs will be created, to meet the scheduled completion time, of the end of 2015, powering 40,000 homes.
The plant will be constructed in sections, called SunPower ‘Oasis’ blocks, with each block being commissioned in cannon, SunPower can generate and test its power while the site is still under construction, as part of the ‘hold co’.