ConEd unit buys 140 MW of solar projects in California
Solar panels. Featured Image: pornvit_v/Shutterstock.com
A unit of Consolidated Edison Inc (NYSE:ED) has bought 140 MW of shovel-ready solar photovoltaic (PV) projects in California from a joint venture between SolarReserve LLC and GCL Solar Energy Inc.
More specifically, Con Edison Development has acquired six projects in Tulare, Kings and Fresno counties, ranging in size from 20 MW to 25 MW in direct current (DC), the buyer said on Tuesday. They have the combined capacity to power some 25,000 homes.
Once the plants are completed, Southern California Edison (SCE) will be buying the output of four of them, while Pacific Gas & Electric (PG&E) will purchase the electricity generated by the other two.
The six PV projects are part of SolarReserve’s global large-scale solar project development portfolio of more than 6.6 GW, which includes solar thermal power, PV and combined solutions, said Kevin Smith, SolarReserve's CEO.
GCL Solar Energy is the US solar development division of Hong Kong-based polysilicon and wafer supplier GCL-Poly Energy Holdings Ltd.