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SolarReserve and GCL Sold 140MW of Solar Projects to Con Edison

published: 2015-05-13 17:45

Con Edison Development, a subsidiary of Consolidated Edison, announced the acquisition of six solar PV projects in California. The projects with sizes from 20 to 25MWdc, totaling 140 MWdc, are included in a PV project portfolio developed through a JV between SolarReserve and GCL Solar Energy. The shovel-ready projects are fully permitted with interconnection agreements. Four of the projects have been secured of power purchase agreements with Southern California Edison (SCE), and the other two with Pacific Gas & Electric (PG&E).

The projects acquired by Con Edison Development are located in Tulare, Kings and Fresno counties and have the capacity to power approximately 25,000 homes. The acquisition also adds to Con Edison Development's existing portfolio of solar projects in California and to its overall renewable energy asset base around the United States.

"With the acquisition of these solar projects, Con Edison Development is significantly expanding the role we play in California's dynamic, renewables sector," said Mark Noyes, SVP and COO of Con Edison Development. "Moreover, these transactions help us build upon our long-standing record of responsible environmental stewardship in locations across the country."

"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 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," said Kevin Smith, SolarReserve's CEO.

GCL’s President, Dr. Fang Peng, reminded the company’s first relationship established in 2012 with Con Edison Development. At that time, GCL developed and sold four central California utility projects to Con Edison Development. The latest collaboration marks GCL’s commitment to developing solar projects in North America and other international markets.

(Photo Credit: Con Edison Development)

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