BELMONT, Calif., Feb. 9, 2016 /PRNewswire/ -- SunEdison, Inc.
(NYSE:SUNE), the largest global renewable energy development
company, today announced it has signed a solar power purchase
agreement with Stockton East Water District in Northern California. SunEdison plans to
install 2.2 megawatts of high-performance SunEdison solar panels on
the water district's property. By going solar, the district expects
to save more than $9.5 million on
energy costs over the next 20 years and 20 million gallons of water
annually.
"A SunEdison solar system is a fast and effective way for
organizations to reduce their energy costs," said Sam Youneszadeh,
SunEdison's regional general manager of its Western U.S. solar
business. "And it's a great way to save water too – on average it
takes more than four gallons of water to generate each
kilowatt-hour of electricity in California. By going solar, we're able to
reduce water use by 99 percent, saving approximately 20 million
gallons of water each year. SunEdison has installed solar at more
than 1,000 locations in the U.S., saving more than 20 billion
gallons of water in the process."
With SunEdison's solar power purchase agreement, the water
district will enjoy the benefits of solar energy without any
up-front cost. SunEdison installs, owns, and operates each system
while the district buys the solar electricity at lower rates than
offered by their local utility.
"With no upfront costs and savings starting from day one, we
couldn't be happier with SunEdison,'' said Scot Moody, Stockton East Water District's
general manager. "We're expecting to save more than $9.5 million with this project. This is a great
example of how we're looking at new initiatives to save money and
be good stewards of the environment."
The solar systems are expected to generate enough energy to
offset approximately 50 percent of the electricity used at the
facility. That same amount of electricity can power 650 Californian
homes a year. The system also avoids the emission of more than 50
million pounds of carbon dioxide over 20 years—the equivalent of
taking around 5,000 cars off the road.
SunEdison intends to complete the solar system in 2016.
Operation and maintenance of the solar systems will be performed by
SunEdison Services, which provides 24/7 global asset management,
monitoring and reporting services.
About SunEdison
SunEdison is the largest global renewable energy development
company and is transforming the way energy is generated,
distributed, and owned around the world. The company develops,
finances, installs, owns and operates renewable power plants,
delivering predictably priced electricity to its residential,
commercial, government and utility customers. SunEdison is one of
the world's largest renewable energy asset managers and provides
customers with asset management, operations and maintenance,
monitoring and reporting services. Corporate headquarters are in
the United States with additional
offices and technology manufacturing around the world. SunEdison's
common stock is listed on the New York Stock Exchange under the
symbol "SUNE." To learn more visit www.sunedison.com.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements involve estimates, expectations, projections, goals,
assumptions, known and unknown risks, and uncertainties and
typically include words or variations of words such as
"anticipate," "believe," "intend," "plan," "predict," "outlook,"
"objective," "forecast," "target," "continue," "will," or "may" or
other comparable terms and phrases. All statements that address
operating performance, events, or developments that SunEdison
expects or anticipates will occur in the future are forward-looking
statements. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those suggested by the forward-looking statements. Factors
that might cause such differences include, but are not limited to,
a variety of economic, competitive, and regulatory factors, many of
which are beyond SunEdison's control and are described in
SunEdison's Form 10-K for the fiscal year ended December 31, 2014, as well as additional factors
it may describe from time to time in other filings with the
Securities and Exchange Commission. Forward-looking statements
provide SunEdison's current expectations or predictions of future
conditions, events, or results and speak only as of the date they
are made, but SunEdison can give no assurance that these
expectations and assumptions will prove to have been correct and
actual results may vary materially. SunEdison disclaims any
obligation to publicly update or revise any forward-looking
statement, except as required by law.
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SOURCE SunEdison, Inc.