Fotowatio Renewable Ventures plans to finance, develop, construct, own and operate the four solar arrays in Los Angeles and Kern counties, which are expected to generate enough clean power for 21,000 homes.
“Southern California Edison is a true leader in promoting the use of alternative forms of energy in California, and Fotowatio Renewable Ventures is pleased to partner with them to deliver new, cost-effective supplies of solar power to their customers,” said Jose Benjumea, CEO, Fotowatio Renewable Ventures, USA. “These projects represent a wonderful collaboration for Fotowatio Renewable Ventures and Southern California Edison that will not only help California meet its renewable energy goals but also provide significant economic benefits to Los Angeles and Kern Counties. This partnership solidifies Fotowatio Renewable Ventures’ position as one of the leading solar developers in the US and adds to our attractive portfolio of contracted projects.”
The PPAs include one 60 MW and two 20 MW installations in Kern County, and one 20 MW installation in Los Angeles County. The projects are due to come online in 2013, when they will be connected to existing transmission lines.
“Utility-scale solar is an important element in reaching California renewable energy goals," said Marc Ulrich, Southern California Edison vice president, Renewable and Alternative Power. " Fotowatio Renewable Ventures will help Southern California Edison continue to be the largest purchaser of solar power in the United States and we’re delighted to partner with Fotowatio Renewable Ventures on these projects.”
Southern California Edison, a subsidiary of Edison International, is the nation’s leading utility for renewable energy. In 2009, it delivered 13.6 billion kilowatt hours of renewable power to its customers, about 17 percent of its total power portfolio. Today’s announcement marks the first joint project for Fotowatio Renewable Ventures and Southern California Edison.
For its part, Fotowatio Renewable Ventures is one of the largest solar power companies in the world with over 230 MW in operation and construction, and more than 2,200 MW under development. The company is a pioneer in US solar project development, having built the country’s first utility-scale power plant in 2007. FRV has offices in Madrid (Spain), San Francisco (US), Torino (Italy), Paris (France), owned by GE Energy Financial Services, Landon Group, and Qualitas Venture Capital.
For additional information:
European Fotowatio Renewable Ventures
____________________________________________________________________________________________________
