NRG Energy has completed the acquisition of Toshiba International’s 4MW AC Spanish Town Estate solar project on the island of St. Croix in the US Virgin Islands (USVI).
Upon completion, the solar plant will generate power which will be sold to the US Virgin Island Water and Power Authority (WAPA) under a 25-year power purchase agreement.
The project will help the USVI achieve renewable energy goals to reduce fossil fuel based energy consumption by 60% over the next decade.
NRG renewable energy business unit president Tom Doyle said: "We are extremely excited to partner with WAPA in paving the road for the development of this and other renewable energy capacity on St. Croix.
"Not only is solar cost-competitive here, but it provides clean, emission-free power, helping to ensure that the pristine beauty of the island is not compromised by the economic costs and detrimental effects of importing and using fossil fuels.
"In addition, Toshiba has significant experience working on St. Croix and we look forward to building a long lasting relationship with both WAPA and continuing our interaction with Toshiba."
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By GlobalDataThe Spanish Town Estate solar project is expected to generate enough electricity to power more than 1,500 homes and requires no fuel and minimal water.
Expected to create nearly 100 direct and indirect jobs during construction, the facility will provide a total of approximately $3m into the local economy.
Toshiba International Corporation business unit manager Mark Lonkevych said: "WAPA will benefit from both NRG’s global power plant operating experience and their reputation as a long-term dependable power provider.
"Toshiba looks forward to working with NRG to bring low cost renewable energy to the USVI and other islands in the Caribbean community."
Toshiba will continue to serve as the lead on engineering, procurement and construction of the facility, which will be owned by NRG.
