SunEdison, a subsidiary of MEMC Electronic Materials (NYSE: WFR), and Xcel Energy’s (NYSE: XEL) regional operating company, Southwestern Public Service Company, announced a deal for five photovoltaic solar installations in New Mexico that will total 50 megawatts (MW) in generation capacity.
The five 10MW sites, to be located in Lea and Eddy counties in
southeastern New Mexico, will comprise a utility-scale, ground-mount
system that will be fully operational by the end of 2011. In total, the
installations will generate enough power for more than 10,000 homes in
its first full year of operation.
This total project will enable Xcel Energy to continue meeting New Mexico’s renewable portfolio standard, which requires that regulated electric utilities meet 15% of their electricity needs by 2015, and 20% by 2020, through renewable energy sources.
The five installations will be built, financed and maintained by SunEdison, under a 20-year solar power services agreement (SPSA) with Xcel Energy, which will buy the solar power generated by the plant.
This project eclipses the 8.22MW (DC) solar power system SunEdison activated for Xcel Energy (www.xcelenergy.com) in Alamosa, Colorado in December 2007.
SunEdison finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers.
Solar wafer maker MEMC acquired SunEdison in October 2009.
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