SunEdison to Build 50 MW Solar PV in New Mexico

December 24, 2009 – Vol.14 No.40

SunEdison to Build 50 MW Solar PV in New Mexico.

Under a 20-year solar power purchase agreement with Xcel Energy, SunEdison will build five, 10 MW projects in Lea and Eddy counties in southeastern New Mexico totaling 50 MW (AC) or 55 MW (DC) of photovoltaic power. The five installations will be built, financed and maintained by SunEdison

The power from the combined facilities will be sold to Xcel to help meet New Mexico’s renewable portfolio standard which requires that regulated electric utilities meet 15 percent of their electricity needs by 2015, and 20 percent by 2020, through renewable energy sources.

The ground-mounted systems will be fully operational by the end of 2011. The combined system will provide the power needed for the equivalent of 10,000 homes.

The deal was completed between SunEdison, North America’s largest solar energy services provider, a subsidiary of MEMC Electronic Materials, and Xcel Energy’s regional operating company, Southwestern Public Service Company.

Xcel Energy, based in Minneapolis, Minnesota, is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states.

SunEdison finances, installs and operates distributed power plants using proven photovoltaic technologies.

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. With the acquisition of SunEdison, MEMC is now a developer of solar power projects and North America's largest solar energy services provider. (12/23/09)

Links:

Xcel Energy
http://www.xcelenergy.com

SunEdison
http://www.sunedison.com

MEMC
http://www.memc.com

--- SunEdison Completes 1.2 MW Solar System in Wlimington, North Carolina.

--- MEMC to Acquire SunEdison.

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No