The Phoebe photovoltaic solar project, located in Winkler County in Texas, will be Innergex’s largest solar project to date with an installed capacity of 250 MWAC (315 MWDC). The average annual electricity generation is expected to reach 738,000 MWh.
The Phoebe project will sell 100% of its output to the ERCOT power grid and receive a fixed price on 89% of the energy produced under a 12-year PPA.
On June 4, 2019, Innergex closed the initial tax equity funding operation in the Phoebe Solar project. Wells Fargo Central Pacific Holdings, Inc. injected its initial contribution of approximately US$37.1 million ($49.6 million) in Phoebe Solar.
Two blocks out of seven were brought online for the Phoebe solar project during Q2, and three others since the beginning of Q3. Electricity was produced and sold from the Blocks that were online.
All the modules required for construction have been delivered on site. Module installation on the remaining two Blocks is nearly complete and they are scheduled to commence generation in late August.
The project is expected to begin commercial operation in the third quarter of 2019.
|Energy|| Solar energy|
|Capacity - Gross (MW)||250|
|Innergex participation (%)||100|