BELMONT, Calif., Feb. 18, 2015 /CNW/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced the successful completion and start of operation of the Regulus solar facility in Kern County, California. The 81.6 MW (megawatt) DC (direct current) facility is one of SunEdison's largest utility scale solar power plants in California and is anticipated to provide almost $184 million in revenue to local businesses, governments and households during the first 20 years of operation. TerraForm Power (Nasdaq: TERP), a global owner and operator of clean energy power plants acquired the facility from its call right list with SunEdison.
An event marking the project's success was held at the site today as SunEdison hosted community leaders and project partners eager to view the newly operational facility, first hand.
"Regulus is another SunEdison success story in the California utility scale solar market and is an important contributor to the state's RPS goals," said Paul Gaynor, Executive Vice President, North America Utility and Global Wind for SunEdison. "We are excited to see the support and enthusiasm surrounding this project, and are pleased that this project is able to provide economic and environmental benefits to the people of California."
Regulus is composed of approximately 250,000 SunEdison Silvantis™ solar photovoltaic (PV) panels to ensure maximum reliability and performance. Operation and maintenance of the solar power plants will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.
SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides asset management, operations and maintenance, monitoring and reporting services for its renewable energy customers around the world. Corporate headquarters are in the United States, with additional offices around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
About TerraForm Power
TerraForm Power is a renewable energy leader that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating renewable energy power plants. For more information about TerraForm Power, please visit www.terraform.com.
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SOURCE SunEdison, Inc.
For further information: Press Contacts: Tory Carroll, Grayling for SunEdison, SunEdison@grayling.com, +1 (619) 269-9518 or Bruce Dunbar, Finsbury for TerraForm Power, firstname.lastname@example.org, +1 (646) 805-2070 Investors/Analysts: R. Phelps Morris, SunEdison, email@example.com, +1 (314) 770-7325 or Brett Prior, TerraForm Power, firstname.lastname@example.org, +1 (650) 889-8628, http://www.sunedison.com