GE Energy Financial Services, PowerLight Corp., and Catavento Lda have broken ground in building the world’s largest solar photovoltaic project. Located on a 150-acre southern-facing hillside in Serpa, Portugal, the facility’s 52,000 photovoltaic modules will produce 11 MW.
The plant will use PowerLight’s PowerTracker technology, which captures as much as 35% more sunlight than fixed solar electric systems since it can follow the sun from early morning to late afternoon. The companies say that the plant will produce enough electricity to power 8000 homes and save more than 30,000 tons a year in greenhouse gas emissions compared to equivalent fossil fuel generation.
GE Energy Financial Services will finance and own the facility in a $75 million transaction. PowerLight will operate and maintain it, while Catavento will provide management services. The companies expect full-power operation by January 2007.
GE Energy Financial Services