Southern Snags 6th Solar Farm: Built by SunEdison, Electricity for Edison International

Southern (NYSE: SO  ) announced today that it will acquire a 20 MW California solar plant in partnership with media mogul Ted Turner's Turner Renewable Energy business. The facility is Southern's second acquisition in California, and its sixth partnered purchase nationwide.

Southern's acquisition involves strategic partnerships to ensure stable and consistent sales and earnings. SunEdison (NASDAQOTH: SUNEQ  ) will build and ultimately operate the facility, while Edison International's (NYSE: EIX  ) Southern California Edison subsidiary will buy up all the electricity per a 20-year power purchase agreement.

"Southern Company continues to be a leader in the development of renewable generation," said Chairman, President and CEO Thomas A. Fanning in a statement today. "The Adobe Solar Facility reflects our ongoing commitment to develop the full portfolio of energy resources -- an effort that has amounted to more than 1,700 megawatts of additional renewable energy resources since January 2012."

SunEdison is expected to start construction this fall, with power flowing to Edison International by spring 2014.

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  • Report this Comment On November 05, 2013, at 10:54 PM, ACSolarSolutions wrote:

    A/C Solar solutions is a sole distributor of SunEdison Panels in Colorado...Please call (303)202-9629 if you have any questions or would like to purchase SunEdison Panels or need assistance in the Austin, TX area or anywhere in Colorado

  • Report this Comment On November 07, 2013, at 4:08 PM, unclenormy wrote:

    I live near this solar farm, so I drove by yesterday afternoon. Not a lot of people onsite(maybe after quitting time), and they only have the metal mounting posts up-no solar panels visible. So it was a 'sea of fence posts'. There WERE a LOT(nearly complete?) of mounting posts up, so they should be able to put the solar panels up at a brisk pace. But I couldn't tell if they had the electrical connections stubbed up at each panel spot.

    The schedule they listed on of doing system testing in the 4th quarter of 2013 seems unlikely. Handling solar panels is a little more delicate and difficult than putting up a metal mounting post. They have to moveeach of the thousands of modules down the long row of mounting posts, and mount them one at a time.

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8/23/2016 4:03 PM
SO $51.71 Down -0.29 -0.56%
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