The North American Development Bank (NADB) said Oct. 9 that it has closed four loan agreements totaling $50.8m for the construction of four solar parks with a total capacity of 19.5 MW (DC) located in northwestern San Diego County, Calif.
That projects are sponsored by Macquarie Infrastructure Co. Solar LLC. The electricity generated by the projects will be purchased by San Diego Gas & Electric, a wholly-owned subsidiary of Sempra Energy (NYSE: SRE).
Two of the projects with a total capacity of 10.2 MW (DC) will be constructed on a 46-acre parcel in the unincorporated community of Valley Center, while the other two with a total capacity of 9.3 MW (DC) will be built on 45 acres in the community of Ramona.
All four projects will be executed under engineering, procurement and construction (EPC) contracts, using polycrystalline photovoltaic modules mounted on a single-axis tracking system.
The projects complied with all the certification criteria of the Border Environment Cooperation Commission (BECC) and were approved by the NADB-BECC Board of Directors on Sept. 4.
To date, NADB said it has provided $369.4m in loan financing for 11 utility-scale solar projects in California, Arizona and Texas. When completed, these projects will have a total installed generation capacity of 110.2 MW (AC). NADB was established and capitalized in equal parts by the U.S. and Mexico for the purpose of financing environmental infrastructure projects along the common border.