Financing on solar energy project complete

EDF Renewable Energy, formerly enXco, completed financing on the 143 MWp Catalina Solar photovoltaic project in California’s Mojave Desert.

San Diego Gas & Electric Co. is buying the output from the project. EDF Renewable Services, formerly enXco Service Corp., will provide operations and maintenance service.

Majority interest in the project was acquired by a group of investors comprising GE Energy Financial Services, a unit of GE (NYSE: GE), Metropolitan Life Insurance Co., a wholly owned subsidiary of MetLife Inc. (NYSE: MET), Union Bank N.A., and Citi. The group plans to acquire the remaining stake upon completion of the project and convert to a single investor lease.

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