Silverado Power, SDG&E strike power purchase agreements

San Francisco, April 3, 2012 — Silverado Power and San Diego Gas & Electric signed two new power purchase agreements with Silverado Power subsidiaries Western Antelope Dry Ranch in Lancaster, Calif., and Victor Mesa Linda B in Victorville, Calif., for a total of 15 MW of solar energy.

Both contracts are for 20 years and each requires approval from the California Public Utilities Commission.

The project in Lancaster will generate 10 MW of renewable energy and the project in Victorville will generate 5 MW. Collectively, the two projects will generate enough electricity to power 3,225 homes.

Under California's Renewable Portfolio Standard program, investor-owned utilities are required to procure 33 percent of their power from renewable resources by 2020.

Silverado's Western Antelope Dry Ranch project in Lancaster and the Victor Mesa Linda B project in Victorville will create a total of 80 construction jobs over the course of construction, which is expected to start in April 2013 and continue through October 2013.

Silverado Power develops utility scale solar photovoltaic ground-mounted systems. The company is based in San Francisco, Calif. and has a large solar project portfolio. It is backed by the Martifer Group, a multinational energy and infrastructure company.

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