US PV project developer SunEdison has signed a 25-year power purchase agreement (PPA) with Riverside Public Utilities (RPU), the municipal electric utility for the city of Riverside, California.
The PPA relates to electricity generated by the proposed 20MW North Lake I Solar plant which will be constructed by SunEdison on land owned by the Metropolitan Water District near the Diamond Valley Lake reservoir in western Riverside County. SunEdison expects to begin constructing the facility in 2014 and is scheduled to complete and become operational in 2015.
“SunEdison's industry expertise and proven track-record give us great confidence that the project will be delivered on-time to help meet our renewable energy targets,” said David H. Wright, General Manager at RPU. “Our partnership with SunEdison will enable us to deliver clean energy to our citizens at cost-effective rates while also enhancing reliability with peak-producing power. Riverside is an environmental leader among municipal utilities, and this contract builds upon our environmental stewardship.”
RPU has become one of the first municipal utilities in California to enter into a utility-scale solar contract of this size. The contract will help the utility to meet the state of California’s Renewable Portfolio Standard (RPS) requirements; a legislation which requires each investor-owned utility to procure 33% of its energy portfolio from renewable resources by 2020.
In addition to this contract, SunEdison signed three additional PPAs with Southern California Edison for a total of 48MW and an 18.5MW PPA with San Diego Gas and Electric.