Market Overview

SunPower Solar Power Plant at NAWS China Lake Begins Operations

SunPower (NASDAQ: SPWR) announced the completion of the largest solar system in the US Navy, a 13.78-megawatt (DC) solar photovoltaic (PV) power system at Naval Air Weapons Station China Lake (NAWS China Lake) in Calif. Using SunPower's high-efficiency, Buy American-compliant solar panels, the plant is generating the equivalent of more than 30 percent of China Lake's annual energy load, helping to reduce costs by an estimated $13 million over the next 20 years.

Using a long-term energy procurement authority (US Code Section 2922A), the power plant is the first federal agency project to be financed through a 20-year term solar power purchase agreement (PPA). The 20-year PPA requires no upfront capital or maintenance obligations from the Navy, matches conventional project financing terms for solar power facilities, and allows the Navy to secure electricity at up to 30 percent below the rate available through shorter duration 10-year PPAs.

"SunPower congratulates the Navy for its forward-thinking commitment to solar

See full press release

Posted-In: News Guidance Contracts Management Global

 

Related Articles (SPWR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters