PSEG Solar Source has agreed to acquire a 13 MW DC solar energy facility from juwi solar (JSI) for $22 million.
The acquisition will increase PSEG’s Solar Source’s portfolio capacity to 106 MW DC.
The project was originally developed by JSI and has a 30-year power purchase agreement (PPA) with El Paso Electric Company.
The development comes in line with PSEG Solar’s strategy to expand in North America. The new project is also their first solar investment in Texas, Diana Drysdale, president of PSEG Solar Source, said.
JSI is the engineering, procurement and construction contractor for the project and will operate the project for PSEG Solar Source upon completion.
JA Solar is supplying the solar panels for the project.
This is the 8th solar project in seven states for PSEG Solar Source. PSEG Solar Source also owns solar projects in California, Arizona, Delaware, Ohio, Florida and New Jersey, the company said.
JSI primarily focuses on the development, design, construction, operation and maintenance of utility-scale (1 MW and larger) solar energy generation facilities in North America.