SunEdison will construct new solar plants in West Texas to supply the City of Georgetown with 150 MW of solar power for 25 years. The SunEdison solar plants will be interconnected in 2016, and will provide over 9,500 GW-hours of energy through 2041. Upon completion, SunEdison expects to offer this project for investment to TerraForm Power.
Southern Company subsidiary Southern Power acquired two PV solar projects totaling 99 MW in Georgia - the 80-MW Decatur Parkway Solar Project and the 19-MW Decatur County Solar Project - from Tradewind Energy. The electricity and associated renewable energy credits (RECs) generated by the 80-MW facility will be sold under a 25-year PPA with Georgia Power. Construction of the 80-MW facility is currently scheduled to begin this month. Georgia Power will purchase the energy generated from the 19-MW project under a 20-year PPA.
PSE&G recently put two new landfill solar farms in service as part of the utility's Solar 4 All program. The 10.14-MW Parklands Solar Farm in Bordentown, NJ and the 11.18-MW Kinsley Solar Farm in Deptford, NJ were brought online in late-December 2014 and will supply enough grid-connected solar electricity to power about 3,500 average-size homes annually. These are the two largest centralized solar projects built to date by PSE&G, creating a portfolio of 26 solar farms and 174,000 pole-attached solar units that supply more than 101 MW of electricity.
Canadian Solar entered into a definitive agreement with Sharp Corporation to acquire Recurrent Energy, for approximately $265 million. Once completed, the acquisition of Recurrent will increase Canadian Solar's total solar project pipeline by approximately 4.0 GW to 8.5 GW, and its late-stage project pipeline by approximately 1.0 GW to 2.4 GW. Total consideration for the acquisition of Recurrent is approximately $265 million in cash.
NRG Renew, a wholly owned subsidiary of NRG Energy and SunShare, are partnering to finance and build 8.2 MW of community solar projects along the Front Range of Colorado. Once completed and online in mid-2015, this will be one of the largest operating community solar portfolios in the nation, comprised of five ground-mount sites, four in the Denver area and one in nearby Colorado Springs. The renewable electricity generated through this alliance will be available to residential, municipal and commercial subscribers spanning five counties.
sPower, developed an agreement with Hecate Energy, a leading power developer, to develop and own/operate solar PV projects. The first joint initiative is the sale to sPower of a 162-MW portfolio comprised of three projects named Beacon 1, Beacon 3 and Beacon 4. The utility scale projects, near Mojave, Calif., in Kern County, will be designed and built by Hecate, then jointly owned and operated by sPower and Hecate. Groundbreaking is scheduled for Q3 2015, with COD from March to July 2016.
For many, it’s the next logical step for smart grid technology.
Dominion closed on the acquisition of the CID Solar Project near Corcoran, Calif., from EDF Renewable Energy. The companies announced the purchase and sale agreement in June 2014. The 20-MW facility completed the conditions of the acquisition and closed on Dec. 11, 2014. It commenced operations on December 22. The project provides power to the San Francisco-based electric utility Pacific Gas and Electric (PG&E) under a 20-year PPA. Terms of the CID transaction are not available.
TerraForm acquired 21 U.S. distributed generation solar power plants comprising 26 MW from SunEdison through a series of transactions valued at $47 million. The 21 power plants have long-term contracts with an average remaining life of 20 years. The portfolio has high quality counterparties including municipalities, schools and businesses and is geographically diverse, with plants located in seven US states. TerraForm has funded the purchase of these call right projects with cash on hand.