Con Edison Development Acquires 140 MWs of California Solar
Written By: Tracy Dawson Roses
May 12, 2015
On May 12 Con Edison Development, a subsidiary of Consolidated Edison, Inc., acquired six shovel-ready solar photovoltaic (PV) projects totaling 140 megawatts from a PV project portfolio developed through a joint venture between SolarReserve, LLC, and GCL Solar Energy, Inc.
Ranging in size from 20 MW to 25 MW, the projects acquired by Con Edison Development are located in Tulare, Kings and Fresno counties. 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.
Mark Noyes, SVP and COO of Con Edison Development, commented that “With the acquisition of these solar projects, Con Edison Development is significantly expanding the role we play in California’s dynamic, renewables sector.” Con Edison Development owns and operates facilities generating in excess of 550 MW of renewable power across California, Arizona, Nevada, Texas, Nebraska, New Jersey, Massachusetts, Pennsylvania, South Dakota and Rhode Island.
Kevin Smith, SolarReserve’s CEO. “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.” SolarReserve, LLC has more than $1.8 billion of projects in construction and operation worldwide.
GCL Solar Energy is the U.S. solar development and IPP division of GCL-Poly Energy Holdings Limited, the world’s largest polysilicon and wafer supplier.