PSEG Solar Source today announced it has acquired two North Carolina solar facilities from BayWa r.e., with a total capacity of 47MWs-dc, representing a total investment of $74.6 million. The PSEG Cork Oak Solar Energy Center and the PSEG Sunflower Solar Energy Center are under construction and scheduled to begin operation later this year.
The two facilities have a 10-year power purchase agreement with Virginia Electric and Power Co. and are located about 90 miles northeast of Raleigh in Halifax, N.C. These are the second and third projects PSEG Solar Source has developed in collaboration with BayWa r.e.
"It's a pleasure to work with a top-notch organization like BayWa r.e. on these projects, which will provide North Carolina with more safe, clean and reliable energy," said Diana Drysdale, president of PSEG Solar Source. "These are important transactions for us, as we continue to expand our solar portfolio across the country."
BayWa r.e. developed the project and is the engineering, procurement and construction contractor for both projects and will operate the facilities for PSEG Solar Source when each goes into operation. Almost 149,000 poly-crystalline Trina Solar panels will be installed at the two facilities, which will use SMA inverters.
"BayWa r.e. is delighted to complete another transaction with PSEG Solar Source. We look forward to growing our relationship with PSEG Solar Source over the coming months and years," said Jam Attari, CEO of BayWa r.e. Solar Projects.