SunEdison Announces Utah's Largest Solar Power Plant Is Now Operational
-- SunEdison's 3.8 Megawatt South Milford Solar Plant Comes Online
BELMONT, California, May 27, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced the successful completion and interconnection of the South Milford solar facility in Milford, Utah. The 3.8 megawatt DC facility is now the largest operating solar power plant in Utah. TerraForm Power acquired the solar power plant from its Call Right Projects List.
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PacifiCorp, an electric utility that serves 1.8 million customers in six western states, will purchase the electricity according to its obligation under the federal Public Utilities Regulatory Policies Act. The purchase agreements and the price of the electricity were approved by the Utah Public Service Commission to ensure a fair price for PacifiCorp customers.
"We're proud to announce the completion of Utah's largest solar power plant," said SunEdison Executive Vice President of Americas and EMEA, Paul Gaynor. "This is the first of many SunEdison projects to come online in Utah, and SunEdison is leading the way with more than 700 megawatts of solar projects planned for delivery over the next 18 months."
The South Milford plant is expected to generate enough electricity to power more than 500 homes, and should eliminate the emission of more than 12 million pounds of carbon dioxide per year, the equivalent of taking more than 1,200 cars off the road. PacifiCorp will purchase the electricity via a SunEdison 20-year power purchase agreement, which enables customers to lock-in low priced electricity at long term predictable prices.
Operation and maintenance of the solar power plant will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
About SunEdison
SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides asset management, operations and maintenance, monitoring and reporting services for its renewable energy customers around the world. Corporate headquarters are in the United States, with additional offices around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including: the South Milford plant is expected to generate enough electricity to power more than 500 homes, and should eliminate the emission of more than 12 million pounds of carbon dioxide per year Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
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