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Capital Dynamics completes 280-MW solar project in California

Global private asset management firm Capital Dynamics completed its 280-MWac California Flats solar project on ranch land near the borders of San Luis Obispo and Monterey County, Calif.

First Solar Inc. developed and built the facility in two phases. It sold California Flats to Capital Dynamics in August 2017, according to a May 28 news release.

The first 130-MW phase was brought online in December 2017 and sells its power to Apple Inc. under a 25-year power purchase agreement. The second 150-MWac phase of the project will sell its output to PG&E Corp. subsidiary Pacific Gas and Electric Co. under a 15-year contract, according to S&P Global Market Intelligence data.

The project is on Jack Ranch, owned by Hearst and one of the largest working cattle ranches in the U.S., according to the release.