CHAMPAIGN, Ill. — University of Illinois officials have finalized a contract for a solar panel project, which will provide about 2 percent of the school’s electricity needs.

The solar farm will be a public-private partnership between the university and Phoenix Solar South Farms LLC of Ramon, Calif. The firm was chosen by the state after a lengthy review process.

“We are pleased to see this long-awaited agreement completed and signed so the installation process can begin,” said Morgan Johnston, associate director of sustainability at U of I Facilities and Services. She will oversee the project.

She said Phoenix Solar will design, build and operate the farm for the first 10 years before turning it over to the university. The university will buy all the energy produced by the farm, paying the company $1.5 million per year, or about $15.5 million over 10 years.

After 10 years, the university will own and operate the farm at little or no cost, other than an annual warranty fee that is part of the $15.5 million. Construction of the 4.87-megawatt farm is slated to begin this spring. Once installed, the farm will be one of the largest on-site university arrays in the country, according to U.S. EPA statistics, producing 7.86 million kilowatt hours per year.

“This unique and challenging project was made possible only through the dedication of many people working together and focused on achieving our renewable energy goals,” said Facilities and Services Executive Director Al Stratman.

In 2008, the chancellor signed the American College and University Presidents’ Climate Commitment, pledging to be carbon-neutral by 2050. As part of this commitment, specific goals for energy conservation and renewable energy were outlined in the 2010 Illinois Climate Action Plan. The solar farm will contribute to the renewable energy used on campus for at least 20 years.

Other, smaller projects already in place include a rooftop solar installation on a business in-structional facility, a solar-thermal unit that heats water for pools at the Activities and Recreational Center and a couple more. Those projects provide less than 33 kilowatts each. “The solar farm represents the success of numerous efforts, including those made by the many hard-working students committed to advancing renewable energy and environmental sustainability,” said Amy Liu, chair of the Student Sustainability Committee. “Its construction will be a historic project and a source of great pride for the campus.”

The 20.8-acre solar farm, located along the south side of Windsor Road between First Street and the railroad tracks, first was approved by the University of Illinois Board of Trustees in November 2012.

“We are proud to support the university’s efforts to achieve their renewable energy goals, and applaud Illinois for being a leader in sustainability among higher edu-cation institutions,” said Murray Cameron, president and CEO of Phoenix Solar.

Johnston said the university is working with Phoenix Solar to provide some kind of student engagement and a website to share information. That website is not yet online.