SunEdison Powers Ahead In California

sunedison california

Solar giant SunEdison (NYSE: SUNE) made several announcements last week in relation to major solar energy projects in California.

The company stated it had secured construction financing for the 26 megawatt Vega solar farm in Merced County; which will add to SunEdison’s already significant Californian portfolio. The financing is underwritten by Deutsche Bank Securities Inc.

“Once complete, SunEdison will have contributed over 158 MW DC of clean, cost effective utility-scale solar to the citizens of California in the last 15 months alone,” said Ryan Bennett, vice-president of project finance, SunEdison North America.

To date, the company has completed 382 projects in California in total, adding more than 489 MW of solar capacity in the state.

The Vega facility will utilise 78,700 SunEdison 330 watt monocrystalline solar panels; which will generate enough electricity to power over 3,500 homes and avoid  carbon dioxide emissions equivalent to the burning over 18,597 tonnes of coal annually.

In addition to constructing the facility, which should be operating by early next year, SunEdison will also provide management services and round-the-clock monitoring, field and reporting services via the company’s  Renewable Operation Center (ROC).

In other recent SunEdison news, the company announced completion of a 1.7 MW rooftop solar panel system in Hesperia, California.

Electricity generated by the system will be sold to Southern California Edison (SCE) under a 20 year power purchase agreement (PPA). The landowner, real estate developer ICO Group, will also benefit through leasing its rooftop.

“This facility is further proof of our ability to make solar a win/win solution,” said Bob Powell, president SunEdison North America. “Whether you’re a utility looking for an established player to meet specific requirements on schedule, or a landlord looking for new revenue streams, SunEdison has the experience and track record to deliver.”

This is the second project SunEdison has completed for Southern California Edison under SCE’s Solar Photovoltaic Program (SPVP), with nine more projects in various stages of development.

Also announced last week was the news SunEdison had been awarded a contract consisting of 17.7 MW of distributed solar projects through California’s Regional Renewable Energy Procurement Project (R-REP), led by the County of Alameda. When completed, the portfolio will generate more than 27,700,000 kWh of electricity annually.

Construction at the R-REP sites will commence at the end of this year, with completion planned by the end of 2015.

Source: SunEdison