SunEdison and GE Capital Real Estate Partner for 2.2 MW Rooftop Solar Projects

Strategic Insights -

SunEdison LLC, a leading solar electricity firm, has entered into an agreement with GE Capital Real Estate to develop 2.2 MW of rooftop solar photovoltaic (PV) projects. The projects will be built on industrial facilities owned by GE Capital Real Estate, with the Ontario Power Authority purchasing the energy produced under the province's feed-in tariff program. This partnership is significant, as it demonstrates the growing demand for renewable energy solutions in the commercial sector.

Key Takeaways:

  • SunEdison will finance, build, own, operate, monitor, and maintain 15 industrial PV solar energy systems, with a total capacity of 2.2 MW.
  • The projects will be located at GE Capital Real Estate facilities in the Greater Toronto Area (GTA) and London, Ontario.
  • The Ontario Power Authority will purchase the energy produced under the terms of Ontario's feed-in tariff program.
  • Construction on three of the PV systems is expected to begin this fall, with the majority of the projects expected to be completed in the following years.
  • The solar systems are expected to generate over 47 million kWh of clean energy over 20 years, equivalent to offsetting over 9.8 million kilograms of CO2 emissions.
  • SunEdison will not disclose the value of the projects, but the partnership highlights the growing interest in renewable energy solutions in the commercial sector.
  • General Electric Capital Corp. and MEMC Electronic Materials Inc. (NYSE:WFR) are associated with the partnership through their respective subsidiaries, General Electric Capital Real Estate and SunEdison LLC.

Statistics:

  • 2.2 MW: Total capacity of the rooftop solar photovoltaic (PV) projects.
  • 15: Number of industrial PV solar energy systems to be developed.
  • 47,000,000 kWh: Amount of energy expected to be generated by the solar systems over 20 years.
  • 9,800,000 kg: Estimated amount of CO2 emissions that will be offset by the solar systems over 20 years.
  • 20 years: Timeframe over which the solar systems are expected to operate.
  • 3: Number of PV systems expected to begin construction this fall.
  • 10: Number of facilities where the solar systems will be located, including Vaughan, Brampton, Burlington, Markham, Mississauga, and London.

Sources:

  • [ADPnews] - Sep 15, 2010
  • "SunEdison to Develop 2.2 MW Rooftop Solar Projects for GE Capital Real Estate"
  • [Source not specified]