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Exelon, First Solar receive DOE finance for 230MW PV plant

10 Apr 2012

US power company Exelon and First Solar have received the first advance of a loan guaranteed by the US Department of Energy (DOE) for the Antelope Valley Solar Ranch One project.

The funding finalises Exelon’s ownership of the 230MW development, which will be constructed and operated by First Solar.

It is located in North Los Angeles county, with the first phase expected to be complete later this year and full operation forecast for late 2013.

A long-term power purchase agreement is in place with California utility Pacific Gas & Electric.

Earlier this month, another PV facility being constructed by First Solar secured finance through a consortium of banks.

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