9 megawatts of solar power to be installed at 18 California schools will generate savings of more than USD $30 million in electricity costs over the next 20 years.
SunEdison, Inc. (NYSE:SUNE) announced late last week it had signed solar power purchase agreements (solar PPA’s) with six unified school districts in the state – Atascadero, Fairfax, Gilroy, Paso Robles, Templeton, and Tracy.
A solar PPA is a long term arrangement to purchase electricity generated by a system installed at a customer’s premises. The arrangement offers the benefits of going solar, without the burden of ownership.
The solar panels for the school projects will be installed on car parking canopies, providing respite from California’s blistering sun as well as cheap, clean electricity.
The systems will generate a forecast 75 percent of the electricity consumed by the school buildings; enough to power around 2,200 California homes and avoiding more than 77,000 tonnes of carbon emissions over the life of the agreement.
SunEdison aims to start construction during the first half of 2016, with view to completion by the third quarter of next year. Ongoing operation and maintenance of the arrays will be carried out by SunEdison Services.
The agreement was coordinated by the School Project for Utility Rate Reduction (SPURR), a Joint Powers Authority (JPA) that aggregates the purchasing power of participants to secure the best pricing and terms. Early this year, SunEdison was chosen to be the exclusive solar provider for the 250 SPURR member school districts.
“These school districts are getting a great deal by choosing to go solar with SunEdison,” said Michael Rochman, SPURR’s managing director. “SunEdison’s pricing and terms are far superior to anything else we have seen in the marketplace, and they have the track record to make sure these systems are cared for over their entire life.”
SunEdison has a solid track record in school installations; including projects for the Montgomery County Public School system in Maryland, Rosedale Union School District and Rialto Unified School District.
Closer to home, SunEdison Australia has also carried out a number of solar schools projects.
