Sustainable Power Group, an independent power producer backed by Fir Tree Partners, bought a 26.5-megawatt project in California from Solairedirect SA.
Solairedirect USA Inc., a subsidiary, will break ground on the utility-scale Adera project near Fresno beginning this quarter, Salt Lake City-based Sustainable Power said in statement Tuesday. The power plant is expected to be operational in mid-December. Terms of the sale weren’t disclosed.
Southern California Edison Co. has agreed to buy the solar farm’s output under a 20-year contract. Adera will generate enough electricity for about 3,000 homes.