SunEdison, a leading global solar energy services provider, and subsidiary of MEMC Electronic Materials, Inc. (NYSE: WFR), announced today that the company's Apex Solar Project, a 20 megawatt (AC) / 24.8 MW (DC) solar photovoltaic power plant, has been sold to Southern Company and Turner Renewable Energy. SunEdison began building the facility, which is located on a 154-acre site in the City of North Las Vegas in Clark County, Nevada, in October 2011 and expects it to be at full commercial operation in the 2012 third quarter.
This is the first project sale between Southern Company and SunEdison. SunEdison developed and built the plant and will be responsible for ongoing operations and maintenance.
Electricity generated by the plant will serve a 25-year power purchase agreement with Nevada Power Company (dba NV Energy). Headquartered in Las Vegas, NV Energy, Inc., provides a wide range of energy services and products to approximately 2.4 million residents of Nevada and nearly 40 million tourists annually.
"As a long-term leader in the solar industry, we are committed to providing reliable and predictably priced solar energy for our customers," said MEMC CEO Ahmad Chatila. "The planning, construction and acquisition of the Apex Project is consistent with this commitment and occurred thanks to support from multiple sources, including NV Energy, Nevada Governor Brian Sandoval, United States Senator Harry Reid and the City of North Las Vegas."