California Prisons Adding 23 MW Of Solar Power With SunEdison

The California Department of Corrections and Rehabilitation (CDCR) has entered into five agreements that will add nearly 23 MW of on-site solar-generated power at the Chuckawalla Valley State Prison and Ironwood State Prison in Blythe, Calif.; Correctional Institution in Tehachapi, Calif.; North Kern State Prison in Delano, Calif.; and California State Prison, Los Angeles County, in Lancaster, Calif.

The expansion is anticipated to save taxpayers more than $55 million over the life of the contracts, according to CDCR. Construction and maintenance will be arranged by SunEdison, using no state general-fund tax dollars. The costs of the projects are further reduced by incentive dollars from California's investor-owned utilities, through the California Solar Initiative program administered by the California Public Utilities Commission.  

The new projects will add more than 83,000 solar panels on the grounds of the five prisons, with construction expected to begin in 2012. 


Source:  CDCR

Univ of Maryland East Shore activates 2.2 MW PV Farm

The University of Maryland Eastern Shore (UMES) will officially activates its 2.2 megawatt photovoltaic solar farm on March 28, 2011.  This is a significant event for a number of reasons.

This is the largest active solar farm in Maryland with more than 7,800 solar panels covering 17 acres --roughly the area of 13 football fields. It is expected to produce enough electricity each year to power the equivalent of about 315 average U.S. homes --that's 3.38 million kilowatt hours annually. During the next 20 years, UMES will purchase from SunEdison the electricity produced by the farm. SunEdison built and will operate and maintain the solar farm.

Significantly, UMES will pay a predictable and reasonable rate for that energy over the full 20 years of the power purchase agreement between the company and the campus. All rate increases are built in -- no unexpected price fluctuations.

Although it sounds strange to call sunlight "green," this project qualifies for the designation. It will reduce the environmental impact of UMES over the next two decades by removing some 121 million pounds of carbon dioxide emissions -- the equivalent of removing more than 11,800 automobiles from the road for a year.

No public money was used for the project. SunEdison financed and built the array, and has agreed to maintain the facility for the next 20 years. The fuel for the electricity that will be produced -- sunlight -- is free and exists regardless of whether we choose to harness it for our own use.

We have been hearing talk about solar energy for many years. Like wind power, the fuel that provides the power is free. Also like wind, it has taken decades to develop technology that is reliable, capable of efficiently harnessing the power of the sun and, most importantly, affordable and cost-effective.

Today, we are beginning to usher in a new era on the Lower Shore. By developing alternative sources of energy, we can help ensure that when traditional sources of power are no longer viable -- whether because of increased costs, decreasing supply in a world of increasing demand or unacceptable environmental consequences --our society will continue to have access to affordable energy to maintain our quality of life.

UMES is setting an example we can all choose to follow.

Source:  delmarvanow

$1.5 Billion fund established to Acquire Solar Assets

SunEdison, the solar energy development division of MEMC Electronic Materials Inc., has signed an agreement with First Reserve Corp. to establish a joint venture that could provide for the acquisition of up to $1.5 billion in current and future SunEdison solar photovoltaic energy projects.

The initial equity commitment for the joint venture of $167 million will be contributed by First Reserve and SunEdison. When combined with contemplated additional debt financing, these equity commitments are expected to fund the acquisition of solar assets developed by SunEdison with an enterprise value of $825 million, according to the companies.

The agreement contemplates that depending on market conditions, development opportunities and existing capital of the joint venture, First Reserve may raise an additional $150 million of equity which, when coupled with a corresponding increase in project debt financing, could scale the joint venture up to an aggregate of $1.5 billion of solar projects developed by SunEdison.

Qualifying projects will be constructed in the targeted markets of the U.S., Italy, Spain and Canada. SunEdison will lead the project identification and development process, and First Reserve will lead the project financing efforts. Once constructed, the projects will be purchased by the joint venture and then operated and managed by SunEdison.

SOURCE: SunEdison