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 Announces Five New Renewable Power Purchase Agreements

SAN DIEGO, April 17, 2013 /PRNewswire/ --  San Diego Gas & Electric (SDG&E) today announced that it has signed five new renewable power purchase agreements for a total of nearly 62 megawatts (MW) of solar and wind energy.  Two of these contracts, for a total of 27 MW of solar power, will be located in San Diego County.

SDG&E signed two contracts for a total of 14.7 MW with TerraGen Development Company, LLC for two wind projects located in Kern and Riverside Counties, and a 20 MW solar contract with E.ON Climate and Renewables, LLC for a facility to be built in Kern County.  Finally, SDG&E signed a 7 MW solar contract with Northlight Power and another 20 MW contract with Silverado Power, LLC; both of these solar photovoltaic projects will be located in San Diego County.

For the second year in a row, SDG&E surpassed the 20 percent mark in renewable power in proportion to overall power sales.  In 2012, approximately 20.3 percent of the energy delivered to retail customers was provided by renewable energy sources, such as wind, geothermal, biomass, hydroelectric and solar facilities.  In 2011, the company reported renewable energy deliveries representing a total of 20.8 percent.

SDG&E signed 13 renewable contracts in 2012 and 23 contracts in 2011 for a total of 36 renewable contracts totaling over 1,750 MW of generation capacity over the past two years.  These contracts put SDG&E in a position to maintain California's 20 percent renewable portfolio requirements in the 2011 to 2013 time frame and achieve the 25 percent renewable power requirement by 2016.  SDG&E is on track to meet or exceed the state's mandate that 33 percent of its retail sales be produced from renewable energy projects by 2020.

"After starting with less than one-percent renewable energy in 2002, SDG&E put an aggressive course of action in place to obtain competitively priced renewable power for our customers to meet California's renewable requirements," said James P. Avery, SDG&E senior vice president, power supply.  "This has resulted in a well-balanced renewable portfolio that encompasses a broad spectrum of energy sources including solar, wind, biomass, biogas and geothermal energy."

The first large scale renewable energy project developed in San Diego County since 2006 the 26 MW NRG Solar Borrego Project went into commercial operation on February 12.  SDG&E also has six projects currently under construction in the Imperial Valley, including the Ocotillo Express Wind Project, which connected to the Sunrise Powerlink last December.  These Imperial Valley contracts were made possible due to the construction of the Sunrise Powerlink, put into service last June, providing renewable developers in Imperial County a way to make new projects a reality. 

For more information on SDG&E's progress towards achieving renewable goals and developments please visit SDGE.com/RenewableFuture.

SDG&E is a regulated public utility that provides safe and reliable energy service to 3.4 million consumers through 1.4 million electric meters and more than 860,000 natural gas meters in San Diego and southern Orange counties. The utility's area spans 4,100 square miles. SDG&E is committed to creating ways to help customers save energy and money every day. SDG&E is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company based in San Diego. Connect with SDG&E's Customer Contact Center at 800-411-7343, on Twitter (@SDGE) and Facebook.

(Logo: http://photos.prnewswire.com/prnh/20110106/MM26476LOGO)

SOURCE San Diego Gas & Electric (SDG&E)

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs