Nov 25 2010
Martifer Solar, multinational company engaged in metallic construction and renewable energy products, and Silverado Power, solar development company offering total solar solutions, have jointly contracted a 20 year Power Purchase Agreement (PPA) with Southern California Edison, a Power Utility company, for 113 MWp solar photovoltaic projects.
The companies have entered in to a joint venture to complete the projects located at various places in Los Angeles County by 2013. The power generated from the projects will meet the energy requirements of thousands of households served by Southern California Edison’s power network.
The joint-venture solar projects of Martifer Solar-Silverado Power have received over 40% allocation of Southern California Edison’s Renewable Standard Contract Program. The signed 113 MWp accords include nine projects at various locations that are closer to the power lines of SCE in Southern California. The signed accord with SCE forms a part of the total 400 MW of utility level solar projects that are under various stages of execution in various parts of the USA by the joint venture formed by Martifer Solar and Silverado Power. The Renewable Standard Contract program is voluntarily initiated by SCE to encourage small and mid sized solar power producers and to buy the generated power from their facilities.
Henrique Rodrigues, Martifer Solar’s CEO, called the joint venture and PPA accord with SCE as a significant landmark that will assist the company to achieve its growth potential. John Cheney, Silverado Power’s CEO, said that the projects while assisting the Los Angeles County in constructing clean energy facilities will also help it meet its growing job demands.
Source: http://www.martifersolar.com/