Exelon (EXC) And Sunpower (SPWRA) To Work Together On PV Plant In Chicago

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08:10:06 am on April 24, 2009

Exelon and Sunpower just announced that they will work together to build the largest urban PV plant in the country in Chicago. The plant, which will be capable of generating 10MW of solar power, should be up and running by the end of this year. The plant will be located on a brownfield property, putting that property back into productive use.

The plans hinge on Exelon receiving money from the federal stimulus program for the project. The company is seeking a loan guarantee for 80% of the project’s estimated $60 million cost. If the loan is approved, Sunpower will create, manufacture and construct the plant, while Exelon will own the plant and market the plants’ green energy.

In an article on SustainableBusiness.com, Exelon Chairman and CEO John W. Rowe commented on the project:

“As a provider of electrical service in urban areas, we understand the importance of finding urban locations for renewable energy and we are pleased to bring the largest urban solar installation to West Pullman, helping to revitalize an area where industry once thrived.”

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