SunEdison announced late last week it had delivered a record 404 MW of renewable energy capacity during the second quarter of this year – up 186 MW year-on-year.
The world’s biggest renewable energy developer said at the end of the quarter it had 1.9 GW of projects under construction, up 1.1 GW quarter-over-quarter and 1.4 GW year-over-year.
Q2 ended with a project pipeline of 8.1 GW, up 598 MW quarter-over-quarter and 4.9 GW year-over-year. Net additions to pipeline projects came to 1.0 GW, and net additions to backlog projects were 801 MW.
“During the second quarter, we continued to balance operational execution while meeting our strategic objectives,” said Ahmad Chatila, SunEdison chief executive officer and TerraForm Power chairman.
” On the operations front, our leading organic development engine continues to execute as we exceeded our megawatt (MW) and Retained Cash Available for Distribution (CAFD) guidance, delivering 404 MW and $63 million, respectively,”
Assuming no significant worldwide economic issues or other material events, the company expects to install 540 to 600 MW capacity during the third quarter of 2015, and for the full year; 2,100 to 2,300 MW.
It’s been a massive year for the company so far – Bloomberg noted SunEdison has expanded on every continent except Antarctica in 2015.
Announcements from the company just in the last month include:
- 20 year PPA signed with the Rialto Unified School District in California for 8.4MW of solar power.
- Construction on the 300MW South Plains II wind farm in Texas commenced.
- 110-megawatt Quilapilun solar power plant construction began.
- 180MW solar deal with Tata Power Delhi Distribution Limited signed.
- SunEdison announced acquisition of the UK’s Mark Group.
- A PPA wind power deal with Hewlett-Packard was announced.
- A 4.1 megawatt solar power plant was completed in the USA.
- Vivint Solar acquisition announced.
- A JV to deliver 50 megawatts of energy storage for Southern California Edison.
FY 2016 is looking even brighter – SunEdison expects to double installations next year; with a total of 4,200 megawatts to 4,500 megawatts forecast.
