This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SDG&E Completes Renewable Power Purchase Agreements With Diverse Business Enterprise Participation





SAN DIEGO, Dec. 17, 2012 /PRNewswire/ --  San Diego Gas & Electric (SDG&E) today announced that it has successfully completed two new long-term power purchase agreements in Imperial Valley totaling 40 megawatts (MW) of renewable energy with diverse business enterprise (DBE) participation. The first contract is DBE-owned via a partnership between Regenerate Power and DBE supplier Tallbear Solar. The second contract is with a partnership between 8minutenergy and Gestamp Solar, who has committed to contracting 50-percent of the project costs to diverse-owned businesses. 

"SDG&E has made a concerted effort to increase the number of diverse-owned suppliers we do business with in electric procurement," said Matt Burkhart, SDG&E's vice president of electric and fuel procurement. "We look forward to continuing to expand DBE participation in our procurement portfolio as we meet our retail customers' needs."

The first of the agreements is a 20-year contract with Tallbear Seville LLC to purchase 20 MW from the Seville solar power facility northwest of Brawley in Imperial County. When completed in 2015, the Seville project will be comprised of photovoltaic single-axis modules and the power will be transported to SDG&E's customers across the 117-mile Sunrise Powerlink transmission line, which was put into service this past June.

"Regenerate Power and our DBE affiliate Tallbear Solar are proud to sign this landmark agreement with SDG&E for the Seville Solar Project. We look forward to working with SDG&E, the Imperial Irrigation District and Imperial County to realize the strategic potential of this project," said Reyad Fezzani, chief executive officer of Regenerate Power and president of Tallbear Solar.

The second of the agreements is a 20-year agreement to purchase 20 MW of energy from the Calipatria Solar Farm, also in Imperial County, from 8minutenergy Renewables' subsidiary, 70SM1 8ME, LLC and its partner on the project, Gestamp Solar. The Calipatria project is expected to be completed in 2015, and the power from the fixed-tilt solar photovoltaic facility will also be transmitted to SDG&E's service territory via the Sunrise Powerlink.

"The Calipatria Solar Farm will deliver clean energy to over 9,000 households in SDG&E's service area and create more than 50 direct and 100 indirect jobs in the Imperial Valley," said Martin Hermann, chief executive officer for 8minutenergy Renewables. "We would like to thank SDG&E for their continued commitment to the Imperial Valley, where the unemployment rate is among the highest in the nation."

Both solar projects will connect to SDG&E's transmission grid at the Imperial Valley Substation via the Imperial Irrigation District's transmission system.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs