GE invests in large PV plant in CA

Catalina Solar project

GE’s (NYSE:GE) Energy Financial Services has teamed up with Citi, Union Bank N.A. and Metropolitan Life Insurance Company to investment in one of the world’s largest photovoltaic plants.

GE Energy Financial Services will contribute 1-GW, $1.5 billion in solar investments for EDF Renewable Energy’s Catalina Solar plant in Rosamond, Calif.

GE originally was to have minority ownership in the 143-MW project, located on 1,100 acres, in late 2012. However, after commercial operations began in August, GE purchased the remaining ownership, turning it into a single investor lease.

EDF Renewable Services is providing operations and maintenance for the facility.  The energy will be used by San Diego Gas & Electric to provide energy to about 35,000 homes annually and offset 250,000 metric tons of greenhouse gas emissions.

The plant includes more than 1.1 million thin-film PV solar modules from First Solar and Solar Frontier.

Financial details of the transactions were not disclosed.

Read more solar energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...