Solar Power Development

The financing of up to $3 million involves the 1.8 MW expansion of an existing 2.2MW solar farm that has been in operation since April 2015. The existing facility was completed in December 2015. The project sponsor has already invested about $3.5 million for the construction of the existing solar farm that has generated approximately $1.7 million in revenues since starting operations. An independent power producer, Sun Pacific Energy Limited, is the owner and operator of the plant. Prior to the expansion, the plant sold 3.5 million kilowatt-hours (kWh) of solar power per year to EPC, the national utility company. The expansion was completed in May 2018 and has increased the project's the energy yield to 6.5 million kWh per year.