SunEdison Inc. (NYSE: SUNE) on Oct. 22 announced that it has completed construction on a 2-MW solar plant for the Town of Elkton, Md.
The town’s mayor and commissioners approved a 20-year power purchase agreement with SunEdison to buy the power generated by the system. Estimates are that it will save the town more than $2 million on electricity costs over the life of the agreement.
“Elkton is making a positive impact on the local community by choosing to power their civic buildings with solar,” said Steve Raeder, SunEdison’s managing director of its Eastern U.S. commercial and industrial business. “This new solar power plant will save the town taxpayer dollars and generate jobs and economic activity for the area.”
Robert J. Alt, Mayor of the Town of Elkton, said: “This solar project is a major step forward in environmental preservation and energy savings for our town in more ways than one. It will reduce the carbon footprint for all of Elkton’s operations, and should save us approximately $2 million over the next 20 years!”
SunEdison is collaborating with Rockville, Md.-based national solar energy company Standard Solar to construct the project.
“The Town of Elkton has embraced the value of renewable energy,” said Michael Ludgate, Standard Solar’s executive vice president of sales and marketing. “Standard Solar is proud to collaborate with such an innovative municipality that understands the importance of renewable energy and is taking the proactive steps to implement a comprehensive solar program.”
Operation and maintenance of the solar power plant will be performed by SunEdison Services, which provides global asset management, monitoring and reporting services.
SunEdison develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world.
Standard Solar is a leading solar energy company specializing in the development and financing of solar electric systems nationwide. With more than 100 MW installed, financed or maintained, Standard Solar operates nationally and is headquartered in Rockville, Md.