SunEdison Completes 1.2 Megawatts of Solar for Metropolitan Council of the Twin Cities, Minn.
SunEdison and Oak Leaf Energy Partners team up to bring solar power to waste water treatment plant
BELMONT, Calif., Oct. 6, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, today announced the completion of two solar power systems totaling 1,280 kilowatts (kW) AC. The systems were developed for the Metropolitan Council of the Twin Cities' waste water treatment plant in partnership with Oak Leaf Energy Partners, a leading national solar developer. SunEdison constructed and financed the installations and will be the long-term owner and operator of the systems.
The construction of the solar systems was funded in part by a $2 million grant from the Xcel Energy Renewable Development Fund. The fund is designed to sponsor projects that improve the environment, increase renewable energy use and create jobs. The grant supports a 1,000 kW solar system for the liquid treatment facility of the plant and another 280 kW solar system for the on-site sludge drying facility, bringing the total installed solar capacity at the wastewater treatment plant to 1,280 kW.
"Xcel Energy is a forward thinking utility, and by promoting the development of new renewable energy in their community they are creating economic activity and valuable jobs," said Mark Domine, SunEdison's senior director of US channel sales. "This is another great example of SunEdison delivering cost effective, clean and reliable renewable energy."
"These grants serve as a critical tool in the creation of renewable energy solutions," said Adam Duininck, Metropolitan Council chair. "The project developed by Oak Leaf and SunEdison will bring clean, renewable energy to our wastewater treatment plant while creating jobs, increasing the tax base, and promoting a more livable environment. We're proud to continue advancing our mission of sustainability. In addition, we expect to be able to pass some savings on to wastewater ratepayers across the region."
The solar power systems are expected to generate enough clean energy each year to power 10 percent of the wastewater treatment plant's annual electricity needs. This is the equivalent to powering more than 127 homes and avoids the emission of three million pounds of carbon dioxide, the same amount of carbon sequestered by more than 1,100 acres of U.S. forest.
"This project was a result of the leadership shown by the Metropolitan Council and the support provided by Xcel Energy," said Michael McCabe, Partner at Oak Leaf. "Oak Leaf applauds all project partners for their contributions in making this a successful project."
Operation and maintenance of the solar power plants will be performed by SunEdison Services, which provides global asset management, monitoring and reporting services.
About SunEdison
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.
About Oak Leaf Energy Partners
Oak Leaf Energy Partners is one of the leading solar energy companies currently operating in the United States, both in terms of installed capacity and the portfolio of projects under development.
As an independent producer of solar energy, Oak Leaf works with water and wastewater utilities, municipalities, school districts and private enterprises across the country to deliver a long-term, reliable supply of clean electricity.
About Metropolitan Council
The Metropolitan Council is the regional policy-making body, planning agency, and provider of essential services for the Twin Cities metropolitan region. The Council's mission is to foster efficient and economic growth for a prosperous metropolitan region.
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 Exchange Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as "expect," "anticipate," "believe," "intend," "plan," "seek," "estimate," "predict," "project," "goal," "guidance," "outlook," "objective," "forecast," "target," "potential," "continue," "would," "will," "should," "could," 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. They may include estimates of expected cash available for distribution (CAFD), earnings, revenues, capital expenditures, liquidity, capital structure, future growth, and other financial performance items (including future dividends per share), descriptions of management's plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above. 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. Although SunEdison believes its expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially.
By their nature, 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. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
SunEdison disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law.
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SOURCE SunEdison, Inc.
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