The 3 Week Diet System

Wednesday, May 13, 2015

Con Edison merchant arm buys 140MW solar

May 13:

Washington, 13 May (Argus) — New York utility Consolidated Edison's merchant renewable generator arm has secured the rights to 140MW of planned solar capacity in California.
Con Edison Development will buy six sites, ranging in size from 20-25MW, across Tulare, Kings and Fresno counties in central California from developers SolarReserve and GCL Solar Energy. Terms were not made public.
The six plants are scheduled to begin commercial operations in 2016, Con Edsion said.
Generation from four projects will be sold to Southern California Edison, with output from the remaining two going to Pacific Gas & Electric, under separate power purchase agreements.
"Con Edison Development is significantly expanding the role we play in California's dynamic, renewables sector," Con Edison Development chief operating officer Mark Noyes said.
Con Edison Development owns and operates more than 550MW of utility-scale renewable capacity in California, Arizona, Texas, Nevada and several northeastern US markets, excluding New York, where its parent company serves as a deregulated electric utility.
The 140MW purchase would double the company's California portfolio, which is around 135MW of wholly and jointly owned solar assets.
Last month, the company adjusted upward its 2015 capital expeditures outlook for new renewable capacity to $835mn from $375mn, paving the way for more acquisitions.


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