Canadian Solar chairman and CEO Dr. Shawn Qu said: “With the help of our trusted partners, the Astoria projects will power more than 40,000 homes with clean energy.
“These projects, which began operating in late 2016, are part of Recurrent Energy’s milestone 1.2 GW 2016 project portfolio.”
GE Energy Financial Services, a unit of GE, provided a tax equity investment for both projects. Financing for the Astoria project was announced in November 2015.
A financing announcement for the Astoria 2 facilityfollowed in January 2016. Both projects employ GE’s state-of-the-art solar inverter technology.
GE Energy Financial Services Renewables head and managing director Kevin Walsh said: “It has been a pleasure to work with Recurrent Energy on the Astoria projects and see them through commercial operation.
"As we continue to invest over $1bn annually in the US renewable energy market, well-developed assets such as the Astoria projects are critical to our success."
Pacific Gas and Electric Company will buy electricity and associated renewable energy credits (RECs) generated by the Astoria project under a long-term power purchase agreement (PPA).
Electricity and associated RECs from the Astoria 2 project will be purchased by the Southern California Public Power Authority and four of its members (Cities of Azusa, Banning, Colton and Vernon), the Power and Water Resources Pooling Authority, and the Cities of Corona, Lodi, Moreno Valley and Rancho Cucamonga.
