The construction and ownership of Colorado’s largest solar power facility will be financed by MetLife and John Hancock Financial Services. SunPower Corp. has been contracted to build this 19-MW solar photovoltaic power plant for Xcel Energy in Alamosa County, Colorado.
The construction on the project is scheduled to start in 2010 spring and by the end of the year, the operation is anticipated to commence. During the construction period, about 100 jobs will be created. David Eves, president and CEO for Public Service Co. of Colorado, said that to meet the demands of customers in Colorado for electricity from renewable energy sources, solar PV is easy and fast way to fulfill the wishes. This project will also help Xcel Energy to meet the solar component of renewable energy standard set by Colorado, Eves said.
Steve Kandarian, executive vice president and chief investment officer for MetLife, said the company is fully aware of the importance of supporting the renewable energy projects, which will impact the environment positively. More than $1 billion has been invested by MetLife in renewable energy projects. The financial support provided by MetLife has made it affordable and easier for public entities and businesses to have access to solar electricity, Kandarian added.
SunPower T20 Tracker systems will be utilized in the project, which will effectively increase the plant’s output and reduce the requirement of land. The system will track and move along the path of the sun enabling the modules to capture more energy from the sun.