Google agreed to provide $145 million in equity financing for the Regulus, SunEdison's largest developed and constructed project in North America. Located in Kern County, Calif., the Regulus plant will begin operation later this year, and will supply power to Southern California Edison through a 20-year PPA. SunEdison developed, designed, executed the structured financing and is constructing the Regulus project, which was contributed to TerraForm Power.
Vista Solar completed a 153-kW solar array for WestGate Church in San Jose, Calif. The system, which was designed and installed by Vista Solar, is expected to generate more than 250,000 kWh of energy each year. Vista Solar secured a $0 down, 15-year PPA which allowed WestGate to be cash-flow positive from the start. As part of the PPA agreement, Vista Solar will monitor the system for 15 years to ensure it is performing at or above expectations.
SheerWind announced field tests of multiple turbines used in a row or series has even greater electrical power output. The INVELOX system, a new concept in wind power generation, is a large funnel that captures, concentrates, and accelerates wind before delivering it to turbines located at ground level. By placing 2 turbines in a series in an INVELOX system, power showed an increase of 1.7X when compared to single turbine.
Google and MidAmerican Energy (MidAmerican) established an agreement for MidAmerican to supply Google's Council Bluffs, Iowa data center with up to 407 MW of wind-sourced energy. The wind power will come from several wind projects that are part of MidAmerican's Wind VIII program, an initiative under which MidAmerican will bring 1,050 MW of new Iowa wind power online by the end of 2015.
NRG Energy and Edison Mission Energy (EME) jointly announced that the Federal Energy Regulatory Commission (FERC) has approved the sale of substantially all of EME's assets to NRG. The acquisition of EME's portfolio of renewable and conventional generation assets will create the second-largest US power company. EME will add nearly 8,000 MW of generating capacity to the combined company's diverse portfolio of both conventional and wind generation facilities. The transaction closed on April 1, 2014.
Constellation signed an agreement with the City of Los Angeles to design, build and operate a 27-MW renewable energy power plant at L.A. Sanitation's Hyperion Treatment Plant. The new power plant, which will cost approximately $130 million to construct, will use digester gas produced at Hyperion as its primary fuel source. The power plant will produce steam and electricity that will be used to operate Hyperion's treatment operations.
The CEO Power Forum: Not all utility CEOs are created equal...
SunEdison introduced a renewable energy project in partnership with New York City, which is scheduled to break ground in the second half of 2015. The project will consist of two PV systems totaling up to 10 MW in size, and will utilize between 30,000 and 35,000 high efficiency solar panels installed across 47 acres leased to SunEdison at Freshkills Park, a former landfill that closed in 2001. When reopened, the converted 2,200 acre park will be the largest in the city and help to meet the PlaNYC goal of a 30-percent reduction in greenhouse gas emissions by 2030.
In the intensifying search for sustainable power options, solar energy is emerging as a viable solution. Many utility companies are investing in utility-scale solar plants, and the growth outlook looks strong -- especially for PV plants, which promise rapid and steady improvements in price and performance.
(May 2012) Entergy Louisiana starts construction on gas-fired power project; Virginia Commonwealth University and Dominion partner on a test site for efficient energy technologies; Burlington Electric Department selects Siemens for meter data management platform; IKEA commissions four Blink electric vehicle charging stations; Edison Mission Energy, TIAA-CREF and Cook Inlet Region Inc. form partnership, and others.