EDF Renewable Energy announced that Dominion (NYSE: D)
will acquire the CID Solar Project. The asset sale agreement will close
upon completion of installation, after which EDF RE will manage the
commissioning and place the project in service.
CID Solar Project,
located on 200 acres of private land in eastern Kings County,
approximately two miles north of the City of Corcoran, California, was
developed by EDF RE and is designed as a 27 megawatt peak (MWp) / 20
MWac ground-mount facility comprised of First Solar Series 3 solar
photovoltaic modules with horizontal single-axis trackers. Construction
commenced on June 12, 2014 with an anticipated date of operation in the
Fall, 2014.
The project’s clean energy will be delivered to
Pacific Gas and Electric Company (PG&E) under a 20-year Power
Purchase Agreement (PPA). EDF Renewable Energy
and PG&E have a 24-year business relationship whereby 454 megawatts
of renewable energy generation is provided to PG&E through nine
projects.
“We are pleased to introduce Dominion to our asset sale
activity and help diversify their generating portfolio with solar
energy,” said Raphael Declercq, EDF Renewable Energy’s Director of
Divestiture and Portfolio Management. “The acquisition agreement was
collaboratively structured in order to allow EDF RE to execute on its
expertise as a project developer and construction manager while meeting
the goals of our customer to grow their renewable energy asset
portfolio.”
EDF Renewable Energy is one of the largest renewable
energy developers in North America with 5.7 gigawatts of wind, solar,
biomass, and biogas projects in the project development portfolio.
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