Constellation builds solar energy system for Portland General Electric
In return, PGE purchases and receives all of the electricity generated by the solar panels at a fixed rate from Constellation under a 25-year solar power purchase agreement
Constellation announced the completion of an aggregate 5.7 MW solar generation project for Portland General Electric in Lake County, Oregon. Constellation financed as well as owns and operates the solar power system.
The project was supported in part through a grant from the Energy Trust of Oregon and abusiness energy tax credit from the Oregon Department of Energy. Through its PPA with Constellation, 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.
The solar project was co-developed by Obsidian Finance Group and Smart Energy Capital. Belectric, Inc., provided engineering, procurement, construction services and construction financing before Constellation acquired the project. About 75 people were employed during construction. Belectric, Inc., will also provide operations and maintenance services for the project.
The solar power system comprises more than 20,000 ground-mounted photovoltaic panels. The project is expected to generate about 10 million kWh of electricity per year. Generating the same amount of electricity using nonrenewable sources would result in the release of an estimated 2,250 metric tons of carbon dioxide annually, or the equivalent emissions from 379 passenger vehicles, according to U.S. Environmental Protection Agency data.