BELMONT, Calif., Nov. 2, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, today announced that it has signed a power purchase agreement with Bloomberg, the global business and financial information and news leader, to power the company's Rockland County, New York-based data center with 2.9 megawatts (MW) DC of solar energy.
"Data centers consume enormous amounts of energy and that can mean sky-high energy bills, but SunEdison solar solutions can help companies quickly reign in their energy costs," said Steve Raeder, SunEdison's regional general manager of its Eastern U.S. solar business. "We're delighted to work with an industry leader like Bloomberg to help them save money while advancing their sustainability initiatives. And, because we've installed thousands of systems, we know how to do it quickly and cost effectively."
SunEdison will supply Bloomberg with solar power through a state-wide program called "remote net metering" which allows customers to enjoy the savings and environmental benefits of solar without needing to install a system on site. Instead, the solar system is built in the same region as the customer, and clean renewable energy is delivered over the existing power lines.
The 2.9 MW solar power plant is expected to generate enough clean and reliable electricity each year to offset more than 5 percent of the data center's electricity usage. Additionally, the project is expected to reduce carbon dioxide emissions by more than 11,600 metric tons over the period of the agreement—the equivalent of taking more than 6,800 cars off the road or powering more than 4,400 homes for one year.
"Bloomberg is constantly looking for opportunities to expand its portfolio of renewable energy projects that make good business sense–projects that reduce costs, diversify energy supply and have a positive environmental impact," said Curtis Ravenel, Bloomberg's global head of Sustainable Business and Finance. "With this project, we're projecting to save more than $2 million over the life of the agreement versus traditional utility prices, and it helps us reach our sustainability and climate goals. With SunEdison's track record for delivering best-in-class solar projects, choosing them to support our critical data centers was easy."
Bloomberg and SunEdison are founding members of the Business Renewables Center, a collaborative platform launched by the Rocky Mountain Institute. The platform aims to accelerate corporate renewable energy procurement and double U.S. capacity of wind and solar energy by 2025. Bloomberg is also a signatory of the Renewable Energy Buyers Principles, a set of six principles that articulate the needs of corporate renewable energy buyers.
Construction of the solar power plant is targeted for completion in the fourth quarter of 2016. Operation and maintenance of the solar power plant will be performed by SunEdison Services, which provides global asset management, monitoring and reporting services.
SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit www.bloomberg.com.
BLOOMBERG, BLOOMBERG PROFESSIONAL and BLOOMBERG APP PORTAL are trademarks and service marks of Bloomberg Finance L.P., a Delaware limited partnership, or its subsidiaries. All rights reserved.
Forward Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as "anticipate," "believe," "intend," "plan," "predict," "outlook," "objective," "forecast," "target," "continue," "will," or "may" or other comparable terms and phrases. All statements that address operating performance, events, or developments that SunEdison expects or anticipates will occur in the future are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond SunEdison's control and are described in SunEdison's Form 10-K for the fiscal year ended December 31, 2014, as well as additional factors it may describe from time to time in other filings with the Securities and Exchange Commission. Forward-looking statements provide SunEdison's current expectations or predictions of future conditions, events, or results and speak only as of the date they are made, but SunEdison can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially. SunEdison disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law.
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SOURCE SunEdison, Inc.