Pennsylvania Conenergy Group and its subsidiary, Epuron, announced the completion and sale of the Exelon-Conergy Solar Energy Center. The 3-megawatt project is located on the GROWS 16.5-acre landfill site, which is just outside of Philadelphia. Exelon
Generation LLC of Chicago purchased the power and renewable energy credits through a long-term power purchase agreement.
This solar power plant is Pennsylvania’s first utility scale plant and the nation’s largest solar photovoltaic (PV) generation project east of the Mississippi River. It features 17,000 crystalline PV panels. The estimated annual production is 3,700,000 kilowatt-hours.
“This agreement is another important step in our effort to bring renewable, low-carbon energy to the marketplace,” said Ken Cornew, president, Exelon Power Team.
Conergy expects, with the extension of the federal tax credits, state renewable portfolio standards and the largest solar installation resources in the world, the United States is poised to become the world leader in solar energy.
“Solar energy offers a safe, reliable financial return for investors as well as a viable hedge against rising electricity costs. The financing of this project during the current financial crisis demonstrates that solar energy remains an attractive asset class for financial investors,” said Kim McLawhorn, CEO, Conergy Americas.