The projects include Sempra U.S. Gas & Power’s 250-megawatt (MW) Copper Mountain Solar 3 project near Las Vegas, and Consolidated Edison Development’s CED California Holdings, portfolio: the 50MW Alpaugh 50, 20MW Alpaugh North and 20MW White River 1 facilities in Tulare County, and the 20MW Corcoran 1 facility in Kings County. The renewable power from all of the projects has been sold under long-term contracts.

Upon finalization of the agreements, Sempra U.S. Gas & Power and Consolidated Edison Development holding companies will each own a 50-percent interest in the five solar facilities. The agreement relative to the CED California Holdings, LLC projects is subject to regulatory approvals which are expected during the second quarter of 2014.

"We are pleased to partner with Consolidated Edison Development on Sempra U.S. Gas & Power’s largest solar project to date as we continue to execute on our strategy to deconsolidate debt and re-invest proceeds in near-term growth opportunities," said Kevin C. Sagara, vice president of renewables for Sempra U.S. Gas & Power.

"This strategy allows us to continue to diversify our renewables portfolio, supporting our commitment to develop and invest in clean, forward-thinking energy solutions."

CED California Holdings, facilities have been operational since 2012, and are operated and maintained by Consolidated Edison Development. Copper Mountain Solar 3 is currently under construction and, when completed, will be among the largest photovoltaic solar plants in the U.S., creating about 300 construction jobs at peak and 10 positions to operate the facility.

Completion of the first 125MW is expected by year-end 2014, with the remaining 125 MW slated for completion in 2015. Sempra U.S. Gas & Power will provide operations and maintenance services when the facility is operational.

Last year, the companies announced an agreement to partner in the 150MW Copper Mountain Solar 2 plant near Las Vegas, along with the 150MW Mesquite Solar 1 plant near Phoenix.

The terms of the agreement were not disclosed.