SunEdison Inc. (NYSE: SUNE) announced May 21 that it has been awarded contracts to build 33 MW (dc) of rooftop solar with Southern California Edison (SCE) as part of 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’s Solar Photovoltaic Program. SunEdison noted that it is the only company to win projects in all four rounds of the program.
SCE, 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). All 17 are scheduled to be operational in 2017.
“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.”
These projects are on the Call Right Projects List for Terraform Power Inc. (Nasdaq: TERP). 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.
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.