Located in California, the project will comprise around 381,000 First Solar thin film photovoltaic panels. The systems will be ground-mounted at multiple sites near the city of Sacramento.
Constellation Energy will own and operate the system, and sell the electricity generated from it to the Sacramento Municipal Utility District (SMUD) under ten, 20-year power purchase agreements.
The transaction was arranged by Smart Energy Capital, LLC, a finance and investment company located in White Plains, New York.
David Taggart, president and COO of Belectric, Inc. comments: "For the past 18 months, the Belectric Team has worked closely with SMUD, Sacramento County and local land owners to develop this project, which clearly demonstrates the competitiveness of Belectric’s integrated thin film PV system design.
"The installation of these power plants will create local jobs and generate clean power for the Sacramento region. Based on the great experience we have had with both Constellation and Smart Energy, we look forward to further collaboration."