Company awards construction contract for solar park.
White Oak Solar Energy LLC, a subsidiary of LS Power, has completed project financing for its 10-megawatt Dover SUN Park to be constructed in Dover. White Oak's financing was arranged by Union Bank, N.A.
White Oak also has executed agreements with SunPower Corporation to design, construct, operate and maintain the solar park.
The Dover SUN Park will be the first utility-scale solar power plant in the region. White Oak has entered into long-term power purchase and environmental attribute agreements with the city of Dover, Delmarva Power and Light, Delaware Municipal Electric Corporation and the Delaware Sustainable Energy Utility for the full output of the facility.
Engineering of the Dover SUN Park is underway and equipment procurement will begin immediately. Site preparation activities will commence in the near term, with equipment installation expected to begin in January. Commercial operation of the Dover SUN Park is scheduled for summer of 2011.
An affiliate of LS Power will manage construction and operations of the project.