Three Cedars solar project, US
Name and Location
Three Cedars solar project, Utah, US.
Client
SunEdison and Dominion joint venture (JV).
Project Description
The project involves the construction of a 265 MW dc, or 210 MW ac solar operation, in Utah. The project is expected to produce enough electricity to power more than 36 000 homes. Electricity produced by the operation will be sold under a 20-year power purchase agreement with Berkshire Hathaway Energy, PacifiCorp.
Value
The project is fully financed. Under the terms of the JV, Dominion will invest an estimated $320-million to acquire 50% of the cash equity and 99% of the tax equity in Three Cedars, including the funding of construction. SunEdison expects to fully finance the $80-million balance of the capital for Three Cedars through a loan from Deutsche Bank through construction and long-term ownership.
Duration
The project is under construction, with an expected commercial operation date of mid-2016.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
SunEdison media relations, Ben Harborne, tel +1 650 474 1631 or email bharbone@sunedison.com.
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