Constellation Energy to Acquire 30 MW Solar Installation in Sacramento (CEG)

Constellation Energy CEG today announced that it acquired a 30-megawatt DC solar generation project in Sacramento, Calif., from utility-grade photovoltaic power plant developer Belectric, Inc. The system will be comprised of approximately 381,000 First Solar thin film photovoltaic panels, ground-mounted at multiple sites near the city of Sacramento. Constellation Energy will own and operate the system and sell the electricity generated from it to the Sacramento Municipal Utility District under ten, 20-year power purchase agreements. The project is anticipated to be commercially operational by the end of 2011. The transaction was arranged by Smart Energy Capital, LLC, a finance and investment company located in White Plains, N.Y., focused exclusively on the North American solar photovoltaic industry.