The loan advance finalizes Exelon’s ownership of the 230MW photovoltaic power project.
First Solar is constructing the solar project in northern Los Angeles County and will operate and maintain the project for Exelon.
According to companies, the first portion of the project is expected to come online in late this year, with full operation planned for late 2013.
The project has a 25-year power purchase agreement, approved by the California Public Utilities Commission, with Pacific Gas & Electric Company for the full output of the plant.
AV Solar Ranch One will generate enough electricity to power the equivalent of 75,000 average California homes, displacing approximately 140,000 metric tons of carbon emissions per year, the equivalent of taking about 30,000 cars off the road.
