Sempra US Gas & Power and Consolidated Edison Development have announced they will partner on a 360MW solar portfolio in the US.
The pair will each take a 50% stake in the 250MW Copper Mountain 3 project near Las Vegas and the 50MW Alpaugh 50, 20MW Alpaugh North and 20MW White River 1 facilities in Tulare County, and the 20MW Corcoran 1 facility in Kings County, California.
"We are pleased to partner with Consolidated Edison Development on Sempra U.S. Gas & Power's largest solar project to date as we continue to execute on our strategy to deconsolidate debt and re-invest proceeds in near-term growth opportunities,” said Kevin C. Sagara, vice president of renewables and corporate development, Sempra US Gas & Power.
ConEdison Development, is a subsidiary of the utility Consolidated Edison, which has annual revenues of US$13 billion.
“As renewable power sources assume an ever-greater role in America's energy landscape, we are seeing first-hand the advantages of cooperating to deliver and operate large, viable and reliable projects,” said Mark Noyes, vice president of ConEdison Development. “We are confident that this strategic approach to development of significant projects will benefit both parties, as well as the nation as a whole."
The electricity from all five have been sold under long-term contracts. Copper Mountain 3 is under construction with the first 125MW online by the end of this year and full operation expected in 2015.
The four projects in California have been operational since 2012.
Last year the pair each took a 50% stake in Copper Mountain 2 and the Mesquite Solar 1 plant near Phoenix, Arizona.