230 MW Antelope Valley Solar Ranch One wins first loan advance
First Solar is constructing the 230 MW photovoltaic power project in northern Los Angeles County and will operate and maintain the project for Exelon
Chicago, April 5, 2012 — Exelon Corp. and First Solar's Antelope Valley Solar Ranch One project has received the first advance of a loan guaranteed by the U.S. Department of Energy's Loan Programs Office, finalizing Exelon's ownership of the project.
As Exelon and First Solar previously announced, the first portion of the project is expected to come online in late 2012, with full operation planned for late 2013.
AV Solar Ranch One will generate enough electricity to power the equivalent of 75,000 average California homes – with no water use, no air emissions and no waste production – displacing about 140,000 metric tons of carbon emissions per year, the equivalent of taking about 30,000 cars off the road.
The project has a 25-year power purchase agreement, approved by the California Public Utilities Commission, with Pacific Gas & Electric Co. for the full output of the plant.