North American Development Bank closes four loans totaling $50.8M for the construction of four solar parks in northwestern San Diego County, CA. The parks will have a combined generation capacity of 19.5MW, and the electricity produced at the sites will be bought by SDG&E.
The North American Development Bank (NADB) has closed four loans totaling $50.8 million for the construction of four solar energy parks located in northwestern San Diego County, California. The four parks will have a combined generation capacity of 19.5MW and the electricity generated by the projects will be purchased by San Diego Gas & Electric (SDG&E).
Two of the projects with a generation capacity of 10.2MW will be constructed on a 46-acre parcel of land in the unincorporated community of Valley Center, while the other two with a generation capacity of 9.3MW will be built on a 45-acre parcel of land in the community of Ramona.
The four solar projects will be executed under engineering, procurement, and construction (EPC) contracts, using polycrystalline PV modules mounted on single-axis tracking systems. Combined, the solar projects are estimated to generate sufficient electricity to power roughly 5,570 households.
Environmental benefits related to these projects include the estimated annual displacement of more than 9,900 metric tons of carbon dioxide and 15 metric tons of nitrogen oxide. The projects complied with all the certification criteria of the Border Environment Cooperation Commission (BECC) and were approved by the NADB-BECC Board of Directors on September 4th.
To date, NADB has provided $369.4 million in loan financing for 11 utility-scale solar projects in California, Arizona, and Texas. Upon completion, these projects will have a total installed generation capacity of 110.2MW.