SunEdison signs PPA for 20-MW solar project in California
Nov 29, 2012 - US solar plants operator SunEdison today said it had inked a 25-year power purchase agreement (PPA) with municipal power utility Riverside Public Utilities (RPU) for a 20-MW solar project in California's Riverside County.
SunEdison, which is a unit of MEMC Electronic Materials Inc (NYSE:WFR), will build the North Lake I Solar plant on land owned by the Metropolitan Water District near the Diamond Valley Lake reservoir. The company intends to commence constriction in 2014 and start supplying power from the plant in 2015.
The solar park will reduce the need for transmission upgrades thanks to its location close to load centres, SunEdison said.
The company added that in California it had also signed three PPAs, approved on October 31, for 48 MW of solar projects with Southern California Edison. Another PPA for a 18.5-MW solar project with San Diego Gas and Electric is pending the California Public Utilities Commission's (CPUC) approval. All four power supply deals were struck under the Renewable Auction Mechanism (RAM) programme, that requires projects to become operational in 24 months upon CPUC approval.