SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced that it has been awarded contracts to build 33 megawatts (MW) DC of rooftop solar with Southern California Edison (SCE) in the utility company's latest round of solar procurement. The solar systems will be built on rooftops throughout the Orange County and Inland Empire industrial corridors as part of SCE's plan to upgrade and modernize the grid for customers in densely populated metro areas and reduce power interruptions during periods of peak demand. The agreements were awarded to SunEdison during SCE's fourth request for offers under the utility company's Solar Photovoltaic Program. SunEdison is the only company to win projects in all four rounds of the program.
Southern California Edison, an electric utility that serves more than 14 million residential, commercial, and industrial customers, will purchase the electricity from 17 rooftop solar systems through 20-year power purchase agreements (PPA).
"We are very pleased to be working with Southern California Edison to modernize and upgrade the utility grid," said SunEdison Managing Director of Western USA Distributed Generation Sam Youneszadeh. "As this project demonstrates, solar systems can be sized and strategically located to provide maximum benefit to both the utility grid and California homeowners and businesses."
Scheduled to be operational in 2016, the 17 solar power plants will generate 33 megawatts of clean, cost effective solar energy, enough to power the equivalent of 63,000 homes. The rooftop solar systems will be built on industrial properties across Orange, Riverside, San Bernardino, and Los Angeles Counties.
These projects are on the Call Right Projects List for Terraform Power, Inc. (Nasdaq: TERP), a global owner and operator of clean energy power plants. TerraForm Power intends to acquire these projects from SunEdison upon completion. Operation and maintenance of the solar power plants will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
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