CHAMPAIGN, Illinois — Officials at the University of Illinois say they've finalized a contract to start construction on the school's solar panel project.
The News-Gazette in Champaign reports (http://bit.ly/1EqYpGk ) that the university has come to terms with Phoenix Solar to have the Ramon, California, company build the 20.8-acre installation in Champaign.
The "solar farm" project will be a public-private partnership between the school and the company. Phoenix Solar will design, build and operate the farm for a decade. The university will buy all of the energy produced at the field from Phoenix Solar, paying about $15.5 million over ten years. After ten years the company will turn the solar field over to the university.
The solar panel field will supply about 2 percent of the university's electricity needs.
Information from: The News-Gazette, http://www.news-gazette.com