HomeDecember 1, 2011
FirstEnergy Solutions Signs Long-Term PPA with Maryland Solar Project
Copyright 2011 EnergyChoiceMatters.com.
FirstEnergy Solutions has signed a long-term agreement to purchase the output from the Maryland Solar Farm, which is to be constructed in Hagerstown, Md.
Under the terms of the agreement, FirstEnergy Solutions will purchase the facility's 20-megawatt output for 20 years. "The long-term purchase power agreement demonstrates that Maryland Solar will have a guaranteed source of revenue, a critical milestone for the project to obtain financing," FirstEnergy Solutions said in a new release.
FirstEnergy Solutions will receive the Renewable Energy Credits produced by the facility.
Construction of the $70-million Maryland Solar Farm project is expected to begin by the end of the year, with completion scheduled for the fourth quarter of 2012. The project is anticipated to be operational in 2013.
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