EDP Receives $33 Million Financing for Solar Plant in California

Sept. 2 (Bloomberg) — The U.S. renewable-energy unit of
Energias de Portugal SA received a $33 million commitment to
help build a 30-megawatt solar plant in California.

The Lone Valley project in San Bernardino County, its first
photovoltaic facility in the U.S., is expected to begin
generating power in the fourth quarter, according to a statement
yesterday on the company’s website. Edison International’s
Southern California Edison Co. has agreed to buy the electricity
under a 20-year contract.

Details on the equity financing weren’t disclosed. Roby
Roberts, a spokesman for EDP Renewables North America, didn’t
immediately return a phone message seeking comment.

Abengoa SA agreed in February to build the solar farm,
which will power about 5,000 homes.

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Will Wade

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us