Phoenix Solar AG (PS4)’s U.S. unit is building a solar power facility at a former cotton farm in Georgia that will be the state’s largest when completed later this year.
The company is erecting the 38.6-megawatt Simon Solar Farm about 30 miles (48 kilometers) east of Atlanta in partnership with closely held U.S. developer Silicon Ranch Corp., Phoenix said today in a statement.
Phoenix, based in Sulzemoos, Germany, is installing JA Solar Holdings (JASO) Co. photovoltaic panels, SMA Solar Technology AG (S92) inverters and Unirac Inc. ground-mounting systems. Southern Co. utility Georgia Power has agreed to buy the solar farm’s electricity for 20 years.
The project is expected to cost $85 million, Silicon Ranch Chief Executive Officer Matt Kisber said today by e-mail. Macquarie Group Ltd. is providing construction financing, and Silicon Ranch is providing the equity for the project, he said.
Silicon Ranch, based in Nashville, Tennessee, completed construction financing last month, according to the statement.
Phoenix and Silicon Ranch previously partnered to build a 9.5-megawatt solar farm at a Volkswagen AG (VOW) auto factory in Tennessee.
Phoenix rose 14 percent to 1.55 euros at the close in Frankfurt.
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