The solar project was developed by SolarVision, which partly owns Celina Solar Project I, along with New Energy Capital, and will be responsible for the operations at the plant.
This project, which was financed with $2.6MM New Market Tax Credits (NMTC) and $17.7MM Finance Fund of Ohio and J.P. Morgan Chase, has successfully procured NMTC investment.
Hanwha Q.CELLS has supplied panels and construction financing for the project, and also acted as EPC contractor, and will be responsible for the project’s maintenance and warranty administration.
Commenting on the project, New Energy Capital managing partner Adam Bernstein said that the solar power project showcases the convergence of falling solar generation costs, state Renewable Portfolio Standards, and the increasing comfort and experience of renewable energy capital providers.
Finance Fund CEO James R. Klein said, "The system created 108 construction jobs and supplies enough clean solar energy to power 500 homes."
"We see the tremendous potential of this project to offer renewable, affordable energy and cost savings in an area with a 15 percent poverty rate."
