PSEG Solar Source (PEG) Announces $12.2M Acquisition of Solar Facility from BayWa r.a.
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PSEG Solar Source announced it has acquired a 6.6 MW-dc solar energy facility from BayWa r.e. Solar Projects representing an investment of $12.2 million. The PSEG Hemlock Solar Energy Center is under construction and scheduled to begin operations later this year.
The PSEG Hemlock Solar Energy Center has a 15-year power purchase agreement with Virginia Electric and Power Co. The facility occupies 48 acres that are under a 35-year lease with a private landowner and is located in Northampton County, N.C., about 90 miles northeast of Raleigh.
"We are very pleased to team up with BayWa r.e. on this project, which will bring more clean energy resources to North Carolina," said Diana Drysdale, president of PSEG Solar Source. "This acquisition represents another milestone in growing our business and illustrates PSEG's commitment to providing a sustainable energy future."
BayWa r.e. is the engineering, procurement and construction contractor and will operate the project for PSEG Solar Source upon completion. The facility will use approximately 20,500 poly-crystalline Trina Solar panels with SMA inverters.
"BayWa r.e. is excited to have partnered with PSEG in the continuing transformation to a greener and lower cost grid," said Jam Attari, CEO of BayWa r.e. Solar Projects. "This world class facility could not have been completed without the tireless support and involvement from the Northhampton County community and our partners."
PSEG Solar Source owns two other solar facilities in North Carolina. The PSEG Turkey Creek Solar Center is being built about five miles away, also in Northampton County; the PSEG Meadows Solar Center is located in Martin County, N.C., and went online in June.
PSEG Solar Source now has 20 utility-scale projects in 13 states. The company currently has 215 MW-dc in operation with another 135 MW-dc in construction and on schedule to be operational by the end of the year.
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