|
SunEdison and Constellation Energy Sign Solar Renewable Energy Credit Agreement in Maryland
BELTSVILLE, Md. - January 31 , 2008 -SunEdison, North America’s largest solar energy services provider, today announced a 15-year agreement to sell Constellation Energy Commodities Group, Inc., a subsidiary of Constellation Energy (NYSE: CEG), an estimated four megawatts (MW) of solar renewable energy credits in Maryland.
When completed, the installations covered under this agreement will provide 30 percent of Maryland’s Renewable Portfolio Standard solar energy requirements in 2008, and almost 60 percent in 2009.
This long-term agreement will permit SunEdison to install solar systems on its customers’ properties, and the estimated four MW of facilities to be built will more than triple the capacity of solar generation operating in the state.
“This transaction furthers the deployment of large-scale solar systems nationwide,” said SunEdison CEO Thomas (Tom) Rainwater. “It ensures that Maryland plays a significant part in meeting the state and nation’s energy needs. SunEdison is passionate about bringing solar energy to our home state.”
“Purchasing clean, renewable energy credits through Maryland’s competitive marketplace is one of the most important ways we can help the state achieve its ambitious Renewable Portfolio Standard goals,” said Paul J. Allen, chief environmental officer and senior vice president, Constellation Energy. “Agreements such as this one underscore that the competitive marketplace is attracting investment and driving innovation in clean energy technology.”
About SunEdison
Sun Edison LLC is North America’s largest solar energy services provider and operates across a global marketplace. SunEdison provides solar-generated energy at or below current retail utility rates to a broad and diverse client base of commercial, municipal, and utility customers. For more information about SunEdison, please visit http://www.sunedison.com . The company is headquartered in Beltsville, MD.
About Constellation
Constellation Energy (http://www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 billion, is the nation’s largest competitive supplier of electricity to large commercial and industrial customers and the nation’s largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.
Would you like to see your news and articles here? GO>>
InvestorIdeas.com Disclaimer: Issuers of press releases are solely responsible for the accuracy of the content.
For more information, please contact:
For SunEdison:
Rob Wyse
Tel: (201) 212-920-1470
Email: rob@mediafirstpr.com
Or
For Constellation Energy:
Lawrence McDonnell
Phone No: 410-470-7433
Source: Sun Edison LLC
|
