Panda Solar Ventures and Con Edison have teamed to develop, construct and operate utility-scale electric power projects in the northeast U.S. The initial agreement will develop two PV farms, between 15MW and 20MW, but has the potential for more solar projects to be added at an unspecified later date.
Todd Carter, president of Panda Energy, stated, “Con Edison brings a substantial market presence, long-standing operations expertise and a wealth of resources to the table. We look forward to working with them to help deliver clean, renewable energy to the mid Atlantic and New England areas of the country.”
Both companies will be equal partners in the joint venture, with Panda chiefly handling the development, engineering, and construction of the projects and Con Edison managing the operation, maintenance and financing. Panda also looks to contribute the solar projects to the joint venture’s portfolio. In addition, Con Edison will market the solar renewable energy credits and the electricity generated by the projects.
Mark Noyes, VP of Con Edison, adds, “Our two companies have very complementary skill sets. Panda Energy has one of the most experienced development teams in the business, a strong track record, substantial deal flow and expertise across the entire power development value chain.”