in News Departments > Projects & Contracts
print the content item

Wells Fargo & Co. has provided financing for an 11.3 MW solar project developed by Sun Edison LLC, a subsidiary of MEMC Electronic Materials. El Paso Electric Co. will purchase the output from the solar array under a 25-year power purchase agreement (PPA).

Located in southern New Mexico near El Paso, Texas, the El Chaparral Solar Farm is situated on more than 140 acres of land and comprises over 40,300 solar modules. The facility is designed to produce approximately 26 GWh of energy annually.

This is the sixth SunEdison utility-scale solar project funded by Wells Fargo in the past year. Wells Fargo says it has invested more than $1 billion in solar project equity investments since 2007, including six utility-scale solar PV projects and a utility-scale concentrating solar thermal power plant.

According to El Paso Electric CEO Tom Shockley, the utility’s renewable energy projects and PPAs currently represent almost 3% of the company’s net dedicated generating capacity.




Hse SandyHook
Latest Top Stories

DOE Report: U.S. Wind Power Prices Reach All-Time Low

According to the U.S. Department of Energy (DOE), wind power continues to play a larger role in the U.S.' energy mix and is the cheapest it has ever been in the country.


Survey Reveals What U.S. Consumers Expect From Their Utilities

GE's new survey measures Americans' views on the state and future of the grid, as well as how much extra consumers would be willing to pay for better power reliability.


How A GIS Can Help Utilities Address The Aging Workforce And Capitalize On Data

Baby Boomers, whose experience and know-how have served the utility industry so well for decades, are retiring. The author suggests utilities can use a geographic information system (GIS) to fill in resultant knowledge gaps.


Sensus Smart Meters Tied To More Overheating Incidents And Fires

SaskPower is investigating two new meter failures, and Portland General Electric is working to replace 70,000 Sensus units amid fire concerns.


SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.

S&C Electric_id176
edf_id180