SunEdison Inc. (NYSE: SUNE) announced April 9 that it has signed agreements to construct and install three new utility-scale solar power plants in southern Utah with a total capacity of 262 MW (dc).
PacifiCorp will purchase the electricity through three 20-year power purchase agreements according to its obligation under the federal Public Utilities Regulatory Policies Act. The purchase agreements and the price of the electricity will be at the utility’s avoided cost of electricity. The contracts will be approved by the Utah Public Service Commission to ensure a fair price for PacifiCorp customers.
“This is a great day for Utah,” said Paul Gaynor, Executive Vice President North America Utility and Global Wind at SunEdison. “These solar power plants will create jobs and provide valuable tax revenue to the people of Utah – they are a testament to the contribution solar can make to our energy future. We thank our local partners in Beaver and Iron County for hosting these projects and we look forward to continued development in the state.”
The three solar power plants are to be located in Iron County in southern Utah, and include the 63-MW (dc) Granite Mountain Solar West plant, the 100-MW (dc) Granite Mountain Solar East plant and the 99 MW (dc) Iron Springs Solar plant. Construction of the power plants is expected to begin in the fall of 2015 with commercial operations expected in 2016.
SunEdison has made a major commitment to Utah, with more than 720 MW (dc) of solar energy in development and 306 MW (ac) of wind power operated in-state. SunEdison’s other solar projects in Utah include the 22.6-MW (dc) Seven Sisters, the 420-MW (dc) Four Brothers, and 22 MW (dc) of smaller projects. Together, these projects will create more than 800 local construction jobs for the people of Utah.
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. SunEdison anticipates offering these projects to TerraForm Power for investment 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.
SunEdison 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. SunEdison is one of the world’s largest renewable energy asset managers and provides asset management, operations and maintenance, monitoring and reporting services for its renewable energy customers around the world. Corporate headquarters are in the United States, with additional offices around the world.