SunEdison Awarded 17.7 Megawatts (MW) Of Distributed Solar Projects In California
October 22, 2014 (Source: PR Newswire) — SunEdison, Inc. (NYSE: SUNE), a leading solar developer and technology provider, has been awarded 17.7 MW DC of distributed solar photovoltaic (PV) power projects through the Regional Renewable Energy Procurement Project (R-REP) led by the County of Alameda. SunEdison will be working with 9 different public agencies in the Counties of Alameda, Contra Costa and San Mateo to develop projects on more than 30 individual sites as part of one of the largest ever public solar power procurements in the United States.
SunEdison will install solar systems at 30 individual locations. To accommodate different site requirements while optimizing solar production, SunEdison will deploy rooftop, canopy, and ground mount system technologies. All of the planned projects are being closely coordinated with each of the 9 agencies involved to ensure that each solar deployment is tailored to each site and agency’s specific needs. Upon completion, the portfolio will produce more than 27,700,000 kWh of clean solar power every year and will result in the reduction of more than 13,500 tons of greenhouse gas emissions.
“SunEdison has a strong commitment to expand solar throughout all of California,” said SunEdison North America President, Bob Powell. “We are particularly proud of this opportunity to work with public agencies in the Counties of Alameda, Contra Costa, and San Mateo – with operating headquarters in Belmont, many SunEdison employees live in these counties and this gives them the opportunity to serve their local communities.”
Susan S. Muranishi, Alameda County Administrator, said: “Alameda County is proud be taking a leadership role in this groundbreaking regional acquisition of renewable energy systems and proud to be working with local government partners who are joining us in embracing alternative energy as a smart way to do business.”
SunEdison plans to begin construction on the sites at the end of 2014, with completion planned by the end of 2015. SunEdison and TerraForm Power, a SunEdison company, will own the projects once complete and the projects purchased and owned by TerraForm will count towards SunEdison’s CAFD commitment. Operation and maintenance of the solar power plants will be performed by the SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services.
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company’s Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa and Asia. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.” To learn more visit www.sunedison.com.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including that upon completion, the portfolio will produce more than 27,700,000 kWh of clean solar power every year and will result the reduction of more than 13,500 tons of greenhouse gas emissions; SunEdison plans to begin construction on the sites at the end of 2014, with completion planned by the end of 2015; and SunEdison and TerraForm Power, a SunEdison company, will own the projects once complete. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison’s filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison’s judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
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