Feb 11 2011
Sybac Solar, a solar engineering firm, is building a private solar power generation plant in Gainesville, Florida. The 2MW plant has 8600 modules and extends over 9 acres of land, off U.S. 441.
The solar farm is estimated to cost around $7 million, which works out to $3.50 per watt, much lesser than regional estimates.
Solar power generation plant in Gainesville
Sybac Solar’s plant is expected to generate power enough for 300 homes, i.e. more than 3,106 mWh in a year. Gainesville Regional Utilities (GRU) has agreed to purchase the electricity at 0.26 per kWh, for a period of 20 years. Under the GRU FIT program, Sybac Solar’s plant is the largest to be built.
Sybac Solar, being the subsidiary of a German firm, introduced its German investment model for the farm. It purchased the land, as well as the allocation rights, and then funded the project itself. Sybac anticipates that investment will flow in after completion of the construction. The guaranteed return due to the feed in tariff model would attract and provide security for the investors.