As per the agreed terms, both the companies will each own a 50% stake in the 150MW Copper Mountain Solar 2 plant near Las Vegas and the 150MW Mesquite Solar 1 power plant near Phoenix.
Commenting on the partnership, Sempra US Gas & Power Renewables and Corporate Development vice president Kevin C. Sagara said the partnership with ConEdison Development will strengthen the company’s strategy to improve its financial returns.
"We look forward to partnering with Consolidated Edison Development to continue operating world-class solar facilities that supply clean, emission-free electricity to our customers, and to capitalize on our shared view of near-term growth opportunities," added Sagara.
ConEdison Development vice president Mark Noyes said, "We are partnering in two strategic renewable assets, both with strong project fundamentals, and advancing our commitment to growth in the renewable energy marketplace."
The clean electricity generated at Mesquite Solar 1 and Phase 1 of Copper Mountain Solar 2 has been sold to Pacific Gas & Electric, under a 20-year and 25-year contract respectively.
Meanwhile, Mesquite Solar 1 has created 528 local jobs and 10 long-term positions, during the construction phase.
