Oil is looking at a…
Investment bank Merrill Lynch upgraded…
MidAmerican Solar and SunPower Corp. have begun construction on the 579 megawatt Antelope Valley Solar Project. The photovoltaic installation will consist of two projects located in the Kern and Los Angeles counties that together make the megawatt Antelope Valley Solar Project the largest solar power development in the world currently under construction.
Paul Caudill, the president of MidAmerican Solar, said that “the Antelope Valley Solar Projects are already creating needed jobs and economic opportunity in local communities, while at the same time, providing direct, long-term environmental benefits.
Construction on the project will take an estimate three years, at which point the facilities will supply enough electricity to power around 400,000 Californian homes. They will also prevent around 775,000 tonnes of carbon dioxide from being released into the atmosphere, equivalent to removing around three million cars from the roads over the next 20 years.
MidAmerican is the full owner of the two installations after acquiring buying SunPower out at the beginning of the year. SunPower remains a part of the project as it will supply the engineering, procurement, and construction services, as well as operations and maintenance services once the construction phase is complete.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com