EDP Receives $33 Million Financing for Solar Plant in California

The U.S. renewable-energy unit of Energias de Portugal SA received a $33 million commitment to help build a 30-megawatt solar plant in California.

The Lone Valley project in San Bernardino County, its first photovoltaic facility in the U.S., is expected to begin generating power in the fourth quarter, according to a statement yesterday on the company’s website. Edison International’s Southern California Edison Co. has agreed to buy the electricity under a 20-year contract.

Details on the equity financing weren’t disclosed. Roby Roberts, a spokesman for EDP Renewables North America, didn’t immediately return a phone message seeking comment.

Abengoa SA agreed in February to build the solar farm, which will power about 5,000 homes.

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