German based company Phoenix Solar AG’s US unit is building a solar power facility at a former cotton farm in Georgia, which will become the state’s largest when it is finished later this year.
The company is erecting the 38.6 megawatt Simon Solar Farm about 30 miles east of Atlanta, in partnership with closely held US developer Silicon Ranch Corp.
Phoenix is installing JA Solar Holdings Co. photovoltaic panels, SMA Solar Technology AG inverters and Unirac Inc. ground-mounting systems. Southern Co. utility Georgia Power has agreed to buy the solar farm’s electricity for 20 years.
The project is expected to cost $85million, with Macquarie Group Ltd providing financing for construction and Silicon Ranch providing the equity for the project.
Phoenix rose 14% to 1.55 euros at the close in Frankfurt.