Sunpin protects hedge for 70-MW solar park in The golden state

Feb 17, 2021 10:35 AM ET
  • United States designer Sunpin Solar LLC has actually authorized a hedge contract covering monetary facets of its 70-MW/98-MWp Titan Solar 1 park in California's Imperial Region.
Sunpin protects hedge for 70-MW solar park in The golden state
Image: courtesy of Sunpin Solar

The arrangement was made with Morgan Stanley Capital Group for a duration of 8 years, Sunpin claimed on Tuesday.

The California-based company additionally announced that Exelon Generation Business LLC's Constellation NewEnergy is Titan Solar 1's power off-taker. While the power acquisition arrangement (PPA) covering the full result of the solar (PV) park was signed last October, the name of the event purchasing the power was not revealed at the time. The PPA has a 12-year term.

Titan Solar 1, covering 420 acres (170 ha) of land between the Salton Sea as well as Anza Borrego Desert State Park, was brought online at the end of 2020. The plant is expected to generate regarding 215,000 MWh of electrical energy a year, which will suffice to cover the intake of approximately 17,460 neighborhood residences. It is outfitted with single-axis trackers.

Sunpin kept in mind that later on this year it will be seeking tax equity investments for over 500 MW of solar as well as battery storage projects intended to be turned on in 2022 and 2023.