Invenergy Gets PNC Financing for Concentrating Solar Power Plant

Invenergy LLC, a closely held U.S. renewable-power developer, received funding from PNC Financial Services Group Inc. for a solar farm that began operation in Southern California.

The 6.3-megawatt Desert Green Solar Farm in Borrego Springs 90 miles (145 kilometers) northeast of San Diego received the financing from PNC’s Energy Capital unit, Chicago-based Invenergy said today in a statement. Terms weren’t disclosed.

The project is selling power under a long-term contract to Sempra Energy’s San Diego Gas & Electric utility. It uses more than 3,500 photovoltaic panels made by Soitec in San Diego that use lenses to concentrate the sunlight and boost output.

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