PSEG Solar Source buys 10.5-MW solar farm under construction from Obsidian Renewables for $21 million

Written By: Stratton Report
November 2, 2016

PSEG Main

On November 2, PSEG Solar Source announced it had acquired a 10.5-MW dc solar energy facility from Obsidian Renewables for $21 million. The facility is located in Lake County, Oregon about 140 miles southeast of Bend, OR.

The PSEG Lake County Solar Energy Center has a 20-year power purchase agreement with PacificCorp, a subsidiary of Berkshire Hathaway Energy. It sits on approximately 65 acres under a 35-year lease with a private landowner.

Diana Drysdale, president of PSEG Solar Source noted:

“We are pleased to partner with Obsidian Renewables and Swinerton Builders on this project which expands our solar footprint to include Oregon where we will deliver enough clean, reliable energy to power about 2,000 Oregon homes. This acquisition is another example of PSEG’s Solar Source’s commitment to growing our renewable energy business.”

Swinerton Builders is the engineering, procurement and construction contractor and will operate the project for PSEG Solar Source upon completion. Construction is underway and commercial operations are expected to commence later this year.

Obsidian’s CEO David Brown remarked: “This has been a wonderful project to develop. The support we have had from Lake County, from the State of Oregon, and from labor, suppliers and consultants has been remarkable. We are very proud to be associated with Swinerton and PSEG on this project.”

George Hershman, Swinerton’s Senior Vice President and General Manager observed: “We are pleased with the strong support received from the local communities and businesses, as well as the high level of craftsmanship provided by the local workforce. We look forward to contributing to Oregon’s continued growth in renewable energy.”

According to PSEG Solar Source, this will be the firm’s 19th utility-scale project in 13 states. The company currently has 215-MWs dc in operation with another 128-MWs dc in construction and on schedule to be operational by the end of the year.