Southern Power has acquired a controlling stake in the 200-megawatt Tranquillity solar farm in California from Recurrent Energy, a subsidiary of Canadian Solar Inc.
Financial details and the size of the stake were not disclosed. Recurrent Energy is constructing the facility and will retain the remaining interest in the project. The project, which represents Southern Power and Recurrent Energy’s first partnership, is expected to generate enough clean solar energy to power approximately 55,000 homes when completed, helping California meet its ambitious carbon emission reduction goals.
The project is being constructed on 1,900 acres of land in Fresno County and will consist of more than 800,000 polycrystalline photovoltaic solar modules, mounted on tracking tables. Construction began in July, with Signal Energy Constructors managing the engineering, procurement and construction of the facility. The project is expected to enter commercial operation in the fourth quarter of 2016.
The electricity and associated renewable energy credits generated by the facility will be sold under a 15-year power purchase agreement with Southern California Edison.