Imperial Valley Secures Loan for Solar Plant in the US

24 July 2011 (Last Updated July 24th, 2011 18:30)

Imperial Valley Solar Company has secured a $77.4m loan from The North American Development Bank for the construction of a 20MW solar power plant in California, US. The plant will be equipped with fixed-tilt polycrystalline silicon photovoltaic modules to be installed in the Imperial I

Imperial Valley Solar Company has secured a $77.4m loan from The North American Development Bank for the construction of a 20MW solar power plant in California, US.

The plant will be equipped with fixed-tilt polycrystalline silicon photovoltaic modules to be installed in the Imperial Irrigation District (IID).

IID has agreed to purchase 20MW of the power generated from this project, which is certified by the Border Environment Cooperation Commission.

Construction of the plant is in line with IID's plan to comply with California's renewable portfolio standard. Upon completion the plant will be capable of generating electricity.