SunEdison has acquired a 156MW (DC) Comanche Solar project from renewable energy developer Community Energy. Partnering with Community Energy, SunEdison will begin to complete the final development stage of the so-called Comanche Solar project in 2015, and it will manage the construction, operation and maintenance of the solar power plant.
The Comanche Solar project is one of the TerraForm Power call right projects, whereby TerraForm has the option (but not the obligation) to purchase the project from SunEdison once it achieves commercial operation. The Comanche Solar project is planned to start commercial operation in early 2016 with SunEdison’s structural and financial supports. Besides, Xcel Energy will purchase electricity generated from the solar PV power plant under a 25-year power purchase agreement with SunEdison at rates that are competitive with the long-term forecast for natural gas-fired generation.
"This large-scale Comanche Solar generating facility will deliver clean, renewable energy for our customers at a price that is right," said David Eves, president and CEO of Public Service Company of Colorado, an Xcel Energy company. "Solar energy is an increasingly important part of our energy future and it is clear that many of our customers and fellow Colorado citizens share that belief. We want to make sure that solar energy policy encourages the development of solar energy in a transparent and sustainable manner."
"Solar energy is now an economical choice for utilities across America and we welcome the opportunity to work with other project developers across America," said Bob Powell, president, North America at SunEdison.