Prudential Capital Group provided the 25-year loan. When completed later this year, the solar project will consist of 214,500 ground-mounted First Solar thin-film panels.
Greg Wolf, senior vice president of business development at DEGS, said: “This financing is another important milestone for Duke Energy as we continue to build a portfolio of high-quality commercial renewable power projects.
“We’re demonstrating our capacity to deliver and execute on every aspect of a successful solar photovoltaic project, including the judicious deployment of Duke Energy’s capital.”
DEGS purchased the 139-acre project from Colorado-based juwi solar, which is the construction contractor for the project, in the first quarter of 2010.
The acquisition came with a 30-year power purchase agreement to sell all of the output from the solar farm and associated renewable energy credits to San Antonio-based CPS Energy.
Blue Wing will be DEGS’ second commercial PV solar project. The company already owns and operates a 1MW solar farm in Shelby, North Carolina, and is developing other potential solar projects across the US.
