Coronal Group acquired a 35 MW solar power project located near Tucson, Arizona. The 225-acre Avalon Solar Project generates enough emission-free solar energy to power 5,620 homes through Tucson Electric Power.
Panasonic Eco Solutions, a unit of Panasonic Corp. of North America, is overseeing the operations and management of the project. Coronal is the owner and manager of the asset.
The Coronal-Panasonic team brings its expertise in solar engineering, finance, operations and management to corporate end-users, institutions, public sector organizations and utilities. The one-stop-shop model provides a streamlined, end-to-end renewable energy solution that is an efficient and reliable platform to lower energy costs.
The Avalon Solar Project, which includes 114,720 solar panels, was developed by Clenera Renewable Energy. It was built by general contractor Swinerton Renewable Energy under the direction of Clenera Renewable Energy and Panasonic including the design, engineering and construction of the project. Sumitomo Mitsui Banking Corp. was the financing provider for the project sale to Coronal.
The Avalon Solar Project started producing solar power in December 2014. It is expected to save 57,660 tons of carbon dioxide from being released into the environment, the equivalent of taking 12,140 cars off the road annually.