Construction of the solar power plant is contingent on the project securing all required permits, interconnection rights and financing. SunPower expects to start construction in 2015, and to achieve full commercial operation by the end of 2016.

At the 320-acre site, SunPower will design and build a SunPower® Oasis® Power Plant system, a fully integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy utility-scale solar projects while optimizing land use.

According to estimates provided by the U.S. Environmental Protection Agency, the completed plant will offset the annual production of almost 127,000 tons of carbon dioxide emissions, which is the equivalent of removing approximately 483,000 cars from Colorado's roads over the next 20 years. What's more, SunPower estimates 100 jobs will be created at peak construction.

Track record in Colorado

This is not SunPower's first foray into the Colorado market. The company constructed two solar power plants in the San Luis Valley that currently generate power for Xcel Energy's Colorado customers: The 19 MW Greater Sandhill plant has been operating since 2010, and the 30 MW San Luis Valley Solar Ranch began delivering energy in 2011. By the end of 2016, when the project announced today is complete, it is expected that the three plants combined will generate enough solar power to serve approximately 26,500 Colorado homes, roughly equivalent to powering the entire city of Littleton, Colorado.