Con Edison acquires 140 MW of Californian solar projects

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Con Edison Development – a subsidiary of Consolidated Edison Inc. – has purchased six shovel-ready solar PV projects across California totaling 140 MWdc.

The project portfolio was developed via a joint venture between SolarReserve LLC and GCL Solar Energy Inc., and the sale adds to Con Edison’s existing PV portfolio and growing order book of renewable energy assets across the U.S.

The six sites are located in the counties of Tulare, Kings and Fresno, and range from 20 MW to 25 MW in size. Fully permitted and with all interconnection agreements in place, once completed the 140 MW portfolio will generate enough clean energy to power 25,000 local households.

Con Edison confirmed that it had secured power purchase agreements (PPAs) with Southern California Edison (SCE) for four of the projects, and PPAs with Pacific Gas & Electric (PG&E) for the other two.

"With the acquisition of these solar projects, Con Edison Development is significantly expanding the role we play in California’s dynamic renewables sector," said Con Edison Development COO and SVP Mark Noyes. "Moreover, these transactions help us build upon our long-standing record of responsible environmental stewardship in locations across the country."

SolarReserve CEO Kevin Smith remarked that these PV projects form part of the company’s large-scale solar project development portfolio, which – solar thermal included – now amounts to 6.6 GW of solar power worldwide.

GCL Solar Energy – the U.S. solar development division of GCL-Poly Energy Holdings – has committed to developing high-quality solar projects for investors across North America, confirmed company president Fang Peng.