BELMONT, Calif., Aug. 19, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced that it has completed construction of a 6 megawatt (MW) AC solar power plant that will supply electricity to Lakeland Electric, the third largest public power utility in the State of Florida, through a 25-year power purchase agreement.
The Bella Vista solar power plant is expected to generate approximately 14 gigawatt-hours of electricity each year, enough to power more than 1,300 homes and avoid the emission of 21 million pounds of carbon dioxide, the equivalent to removing more than 2,000 cars from the road.
In addition to the 6 MW Bella Vista solar power plant, SunEdison has completed three other projects for Lakeland Electric and is developing two more. The total solar power capacity of the portfolio under the Master Agreement is expected to be 24 MW.
"Lakeland Electric is a forward thinking, pragmatic utility company," said Paul Gaynor, SunEdison's executive vice president of the Americas and EMEA. "With the Bella Vista solar project, and two other projects that are currently being developed, Lakeland and its customers will have access to clean, reliable, and cost-effective energy for years to come. By the end of the first quarter of 2016, we expect to have finished all six projects for Lakeland Electric, completing their 24 MW solar portfolio."
"SunEdison has consistently been a leader in renewable energy development," said Joel Ivy, Lakeland Electric's general manager. "Our customers told us they wanted renewable energy and our partnership with SunEdison ensures this happens on time and on budget. We are excited to expand our portfolio with clean, reliable renewable energy, which will enable us to give our customers predictably priced low-cost electricity for years to come."
The completion of the solar power plant was commemorated with a ribbon cutting ceremony, attended by City of Lakeland Commissioner and Mayor Pro Temp Phillip Walker, City of Lakeland City Manager Doug Thomas, Lakeland Electric General Manager Joel Ivy, Lakeland Electric Alternative Energy Coordinator Jeff Curry, and SunEdison Senior Manager Frances Yuhas.
TerraForm Power, Inc. (Nasdaq: TERP), a global owner and operator of clean energy power plants, acquired this project upon completion from its Call Right Projects list.
Operation and maintenance of the solar system will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
About SunEdison SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. 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 Lakeland Electric Lakeland Electric is the third largest public power utility in the State of Florida serving over 120,000 customers with production capability of over 1100 Megawatts. Lakeland Electric has been investing in solar projects for over 20 years. Their dedication to funding cleaner energy sources is evident in their commission of their third, large scale solar array, Bella Vista. From LED streetlights to a solar hot water heating program, Lakeland Electric is proud of their long standing traditions and pursuit of excellence. Through 2016, they intend to commission two additional large scale solar farms, bringing their alternative energy portfolio to around 3% of their summer energy needs.
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SOURCE SunEdison, Inc.