SunPeak Solar 23MW project gets $77m development loan

The North American Development Bank (NADB), a joint US-Mexico financial institution focused on financing environmental projects along the countries’ border, is loaning $77.4m to a subsidiary of SunPeak Solar for construction of 23MW solar project in California.

NADB managing director Gerónimo Gutiérrez calls the loan the “opening of a new chapter... that will help us move forward in the development of renewable energy projects”.

The project is to consist of fixed-tilt polycrystalline PV panels arrayed across 123 acres in Niland within the Imperial Irrigation District, which will also purchase output from 20MW of the project. The irrigation district must meet California’s 33% by 2020 Renewable Portfolio Standard.

Photo via Flickr.

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