Solar Power Inc. Agrees to Buy 9.9-Megawatt New Jersey Project

Solar Power Inc., a renewable-energy developer backed by China’s LDK Solar Co., agreed to buy a 9.9-megawatt project in New Jersey for an undisclosed sum.

The company is buying Beaver Run Solar Farm in Lafayette from Shotmeyer Solar LLC, which also agreed to lease land for the power plant, Roseville, California-based Solar Power said in a statement today. The deal is expected to close before year-end.

Construction on Beaver Run is scheduled to begin next quarter, and the solar farm is expected to be connected to the grid by the fourth quarter.

Before it's here, it's on the Bloomberg Terminal.