PSEG Solar Source acquires two solar facilities from BayWa r.e.
PSEG Solar Source announced this week that it acquired two North Carolina solar projects from BayWa r.e. with a total generating capacity of 47 megawatts for a total investment of $74.6 million.
The PSEG Cork Oak Solar Energy Center and the PSEG Sunflower Solar Energy Center, located about 90 miles northeast of Raleigh in Halifax, North Carolina, are currently under construction and are expected to begin operation later this year. The two facilities have a 10-year power purchase agreement with Virginia Electric and Power Co.
BayWa r.e. developed the projects and acts as their engineering, procurement and construction contractor. It will also operate the facilities for PSEG Solar Source when they begin operation.
“It’s a pleasure to work with a top-notch organization like BayWa r.e. on these projects, which will provide North Carolina with more safe, clean and reliable energy,” Diana Drysdale, president of PSEG Solar Source, said. “These are important transactions for us, as we continue to expand our solar portfolio across the country.”
Almost 149,000 poly-crystalline Trina Solar panels will be installed at the two facilities, which will use SMA inverters.
“BayWa r.e. is delighted to complete another transaction with PSEG Solar Source. We look forward to growing our relationship with PSEG Solar Source over the coming months and years,” Jam Attari, CEO of BayWa r.e. Solar Projects, said.
