REC joint-venture signs solar power purchase agreement

NorthLight will act as the project developer of the North Star project. The PPA anticipates delivery of electricity to PG&E based on the construction of the 60 MW plant in Mendota, Fresno County, California. The plant is intended to be constructed with PV modules manufactured by REC.

The project is still subject to approval by the California Public Utilities Commission as well as the completion of CAISO interconnection studies, and is awaiting the clearance for certain environmental and other permits related to the site.

Realization of the project also requires that NorthLight Power secures external equity and debt financing for the project on behalf of North Star Solar. REC will not act as equity owner of the project, which is expected to be in operation by the end of the second quarter of 2013.