Con Edison expands solar project portfolio with acquisition of PV projects in California

Con Edison Development will expand its portfolio of solar projects in the US with the acquisition of six solar photovoltaic (PV) projects in California developed through a joint venture between SolarReserve and GCL Solar Energy.

The projects are located in Tulare, Kings and Fresno counties, and has power generation capacity ranging from 20 MW to 25 MW, which could produce up to 140MW of power, enough to power around 25,000 homes.

Con Edison Development COO Mark Noyes said: "With the acquisition of these solar projects, Con Edison Development is significantly expanding the role we play in California’s dynamic, renewables sector.

"Moreover, these transactions help us build upon our long-standing record of responsible environmental stewardship in locations across the country."

Con Edison has received the Power Purchase Agreements from the Southern California Edison (SCE) for four of the projects and for the remaining two projects, it has signed the agreement with Pacific Gas & Electric (PG&E).

SolarReserve CEO Kevin Smith said: "We are pleased to continue our efforts to bring affordable clean energy to consumers, as well as deliver highly viable projects from our successful PV development efforts in the US.

"These PV projects developed here in our home state are part of our global large-scale solar project development portfolio of more than 6.6 gigawatts (GW), which includes our advanced solar thermal technology, photovoltaic technology, and combined solutions that can deliver reliable, 24/7 baseload solar power that is cost-competitive with conventional energy sources."