Significant solar power projects for SunEdison, Inc. (NYSE: SUNE), keep rolling in – the latest to be built in San Diego and Massachusetts.
Earlier today, the company announced a 20-year power-purchase agreement with the City of San Diego involving 6.6 megawatts of solar to be installed across dozens of sites owned by the City.
Collectively, the 25 solar power systems will save the City’s taxpayers an estimated USD $22 million over the life of the agreement. The arrays will offset more than 70 percent of the electricity consumed by the buildings where they are installed; equivalent to the amount of electricity used by approximately 6,700 California homes.
“Smart cities like San Diego are using solar to save money now, and to hedge against rising utility rates,” said Sam Youneszadeh, regional general manager of SunEdison’s Western U.S. solar business.
Many of the systems will be in the form of solar car parking canopies, providing shade for vehicles while generating clean electricity. SunEdison has been involved with a number of solar canopies, including a massive 3.2 megawatt project for Bristol Community College in Massachusetts, three for the City of Fremont in California and projects in Coconino County, Arizona.
SunEdison says it plans to start construction during the second quarter of next year, with completion targeted by late in the year. Ongoing operations and maintenance will be performed by SunEdison Services.
“We are looking forward to working with SunEdison to reduce the City’s carbon footprint,” said Mayor Kevin Faulconer. “This solar agreement will help us achieve our energy efficiency goals, saving San Diegans millions of dollars over the term of the agreement while doing the right thing for the environment.”
In other recent SunEdison news, the company announced it had commenced construction on a 4.5 megawatt DC solar project in Dighton, Massachusetts. The project is being constructed for Brockton Housing Authority under a 20-year power purchase agreement (solar PPA), which will save the Authority an estimated USD $14 million on power costs over the life of the agreement.
The solar power station is expected to offset approximately half of the housing authority’s electricity usage and avoid approximately 3,600 tonnes over the period.
The solar plant will supply clean electricity via “virtual net metering”, where a system is built in the same region as the customer, and electricity is delivered over the existing power lines.
Construction of the facility targeted for completion during the first half of next year.
