SunEdison (NYSE: SUNE) announced March 26 an agreement to develop and install four solar power plants for the City of Long Beach, California, delivering a combined 2.5 MW of solar energy.
SunEdison has added the plants to the call right list of “yieldco” affiliate TerraForm Power (Nasdaq: TERP).
“It’s a genuine pleasure to partner with the City of Long Beach,” said Rafael Dobrzynski, Senior Vice President and General Manager of Distributed Generation at SunEdison North America. “The City has a compelling vision for a sustainable economy, and with solar they can save money, save water, and cut down on pollution. And with a SunEdison fixed-price power purchase agreement, they can lock in energy savings without a penny up-front.”
The City of Long Beach chose SunEdison based in part on a successful track record with other California municipalities, such as San Jose and Huntington Beach. SunEdison will install the solar systems on a number of city buildings and properties, including such prominent facilities as the Long Beach Airport and the Main Health Department building. Each solar installation is designed to offset power exclusively for the city at the sites where the systems are installed. 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.
SunEdison said it is the world’s largest renewable energy development company. It manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. Corporate headquarters are inthe United States, with additional offices around the world.