Power plant operator, Sempra US Gas and Electric has partnered with renewable energy project developer and operator, ConEdison Development to run two of Sempra’s solar plants.
The first of the two 50-50% interest owned plants is the 150MW Copper Mountain 2 solar plant, near Las Vegas. Still under construction with the first phase complete and generating 92MW currently, the second phase is expected to be complete by 2015, generating enough clean energy for 45,000 homes under a 25 year power purchase agreement (PPA) with Pacific Gas and Electric.
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The second project is the 150MW Mesquite Solar 1 plant, completed in late 2012, in Arlington, near Phoenix; the plant is the first phase of Sempra’s Mesquite Solar complex and generates enough power for 56,000 homes, under a 20 year PPA also with Pacific Gas and Electric.
The joint venture was announced in May 2013, the transaction terms undisclosed.
“Copper Mountain Solar 2 and Mesquite Solar 1 are among the largest photovoltaic solar plants in the US, and we are pleased to partner with ConEdison Development in the ownership of both these plants,” said Kevin Sagara, vice president of renewables for Sempra US Gas and Power.
“This transaction enables us to improve our financial returns, deconsolidate debt and reinvest the proceeds to more rapidly grow our business” he said.
Mark Noyes, vice president of ConEdison Development said the two plants “are both first-rate facilities with solid, long-term agreements.”