Con Edison Development (New York, U.S.), a subsidiary of Consolidated Edison, Inc., has acquired six shovel-ready solar photovoltaic (PV) projects totaling 140 megawatts (MW) from a PV project portfolio developed through a joint venture between SolarReserve, LLC (Santa Monica, CA, U.S.), and GCL Solar Energy, Inc. (San Francisco, CA, U.S.).
The acquisition adds to Con Edison Development's existing portfolio of solar PV projects in California and to its overall renewable energy asset base around the United States.
PPAs with SCE and PG&E
Ranging in size from 20 MW to 25 MW, the projects acquired by Con Edison Development are located in Tulare, Kings and Fresno counties and have the capacity to power approximately 25,000 homes.
The projects are all fully permitted, with interconnection agreements in place. Power Purchase Agreements have been secured with Southern California Edison (SCE) for four of the projects and with Pacific Gas & Electric (PG&E) for the remaining two.
SolarReserve is a leading global developer of utility-scale solar power projects and advanced solar thermal technology. GCL Solar Energy is the U.S. solar development and IPP division of GCL-Poly Energy Holdings Ltd. (Hong Kong), the world's largest polysilicon and wafer supplier.
“With the acquisition of these solar projects, Con Edison Development is significantly expanding the role we play in California's dynamic, renewables sector,” said Mark Noyes, SVP and COO of Con Edison Development.
“These PV projects developed here in our home state are part of our global large-scale solar project development portfolio of more than 6.6 gigawatts (GW), which includes our advanced solar thermal technology, photovoltaic technology, and combined solutions that can deliver reliable, 24/7 baseload solar power that is cost-competitive with conventional energy sources,” said Kevin Smith, SolarReserve's CEO.
2015-05-13 | Courtesy: Consolidated Edison Development | solarserver.com © Heindl Server GmbH
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