Con Edison buys 92 MW in solar projects from GCL Solar

San Francisco, July 31, 2012 — Consolidated Edison and GCL Solar Energy completed a transaction of two solar photovoltaic projects totaling 92 MW from GCL Solar.

The projects, situated in Alpaugh in Tulare County in California's Central Valley, are scheduled to begin commercial operation in the fourth quarter of 2012. The two projects will be owned and operated by CED and provide enough power to serve about 15,000 homes.

Each year the solar generation is expected to avoid nearly 80,000 tons of carbon dioxide, which is the equivalent of removing nearly 15,000 cars from the road every year for the life of the projects. The power and environmental attributes are being sold to Pacific Gas and Electric Co. under 25-year power purchase agreements.

Launched in 1997, Con Edison Development focuses on the development, ownership and operation of renewable and energy infrastructure projects. Through acquisitions and development, CED has owned, operated and marketed more than 2,000 MW of electric generating facilities.

Con Edison Development is a unit of Consolidated Edison, Inc., one of the nation's largest investor-owned energy companies, with about $13 billion in annual revenues and $40 billion in assets.

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