Chicago, United States [RenewableEnergyWorld.com] Exelon and SunPower Corporation have agreed to develop the nation’s largest urban solar power plant at a former industrial site on Chicago’s South Side. The 10-megawatt solar photovoltaic (PV) facility is scheduled for completion by the end of this year.
The US $60 million project is contingent upon Exelon receiving a federal loan guarantee under the recently passed federal stimulus legislation formally known as the American Recovery and Reinvestment Act. Exelon is seeking a loan guarantee for up to 80 percent of the project cost from the U.S. Department of Energy Loan Guarantee Program Office (LGPO).
Exelon plans to lease 39 acres of the West Pullman Industrial Redevelopment Area from the City of Chicago for the project. The former industrial site is a “brownfield” property that will be redeveloped for productive reuse.
Exelon Generation will own and operate the plant and market the electricity and Solar Renewable Energy Certificates (SRECs) it generates. SunPower will design, manufacture and install the solar system.
“With nearly 2,000 megawatts of renewable power in our energy portfolio, including hydro-electricity, wind, landfill gas and solar, Exelon is investing aggressively but wisely in renewables as part of our comprehensive environmental strategy, Exelon 2020,” said John Rowe, Exelon’s chairman and CEO. “As a provider of electrical service in urban areas, we understand the importance of finding urban locations for renewable energy and we are pleased to bring the largest urban solar installation to West Pullman, helping to revitalize an area where industry once thrived.”