Con Edison Development, a unit of Consolidated Edison (ConEd, NYSE: ED), bought six solar photovoltaic (PV) projects totaling 140-MW from a PV project portfolio developed through a joint venture between SolarReserve and GCL Solar Energy.
Ranging in size from 20-MW to 25-MW, the projects acquired by Con Edison Development are located in Tulare, Kings and Fresno counties. The projects are all fully permitted, with interconnection agreements in place.
Power purchase agreements have been secured with Southern California Edison (SCE) for four of the projects and with Pacific Gas & Electric (PG&E, NYSE: PCG) for the remaining two.
The acquisition adds to Con Edison Development’s existing portfolio of solar projects in California and to its overall renewable energy asset base around the U.S.
SolarReserve is a global developer of utility-scale solar power projects and advanced solar thermal technology.
GCL Solar Energy is the U.S. solar power development and IPP division of GCL-Poly Energy Holdings, a polysilicon and wafer supplier.
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