A new development has occurred in the first solar power contract for the Oklahoma Municipal Power Authority.
The North Fork Solar Solar Project under development by Recurrent Energy, a subsidiary of Canadian Solar, in western Oklahoma’s Kiowa County, will use $103 million in tax credits. Recurrent recently signed the agreement with Bank of America, reported PV Magazine.
One hundred percent of the electricity to be produced by the solar project will be sold to the OMPA. It also represents the very first solar power to be employed by the Authority.
The $103 million tax equity agreement is also the first such production tax credit transaction for Recurrent Energy and also its first tax credit transfer transaction.
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