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Loan signed for NRG Solar project to be built at SDSU Imperial Valley Campus

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San Diego State University’s Imperial Valley Campus is slated to host a new 5-megawatt solar park, as NRG Solar LLC, the NRG Energy (NYSE: NRG) subsidiary based in Carlsbad, announced Tuesday the signing of a $19.2 million loan for the construction of the renewable energy project.

The university campus is located in sun-rich Brawley, in the Imperial Valley desert. Occupying about 50 acres of the campus, it’s expected to generate sufficient electricity for the equivalent of about 1,935 households, NRG Solar said in a release.

NRG Solar signed the loan, which covers the designing, building and operating of the solar park, with The North American Development Bank. No expected groundbreaking date was provided.

Imperial Irrigation District, the local public utility, will purchase the electricity generated by the project under a 25-year term power purchase agreement, the release added. The solar park will interconnect to IID’s grid at a point located approximately one-half mile east of the project site, and will consist of polycrystalline photovoltaic modules manufactured by Trina Solar and mounted on single-axis trackers.

“NADB is proud to partner with NRG Solar on this project that will help increase the generation of solar energy in Imperial Valley, a region that has the potential of becoming one of the main generators of renewable energy in California,” said Geronimo Gutierrez, NADB managing director.

NRG’s Richard Grosdidier, senior vice president of commercial execution, said nothing is more critical to sustainability efforts than the growing availability and diversity of environmentally friendly choices. He also called it a "unique learning opportunity" for SDSU students.

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