The changes in terms on notes also include a requirement that companies buying up TerraForm stock take over the notes.
The measure is a first step to lifting significant obstacles to the development of solar in the Sunshine State.
The utility is seeking 75 MW of solar and other renewable energy projects from 500 kW to 20 MW in capacity under a new shared renewable energy program.
The 550kW system will serve members of a rural electric cooperative in the Shenandoah Valley, and comes in the absence of state policies for shared renewables.
This is the latest roadblock for the troubled project on public land in the California desert.
The national lab’s latest report finds ongoing declines in PV system prices, with residential system prices falling to $4 per watt in 2015.
The project on Oahu will be one of the larger PV plants build in Hawaii to date.
Canadian Solar predicts that Recurrent will complete more than 1 GW of PV projects in the United States this year.
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