- The agreement is for 113 MWp of clean power for Southern California, and is expected to be constructed in 2013
SAN FRANCISCO--(BUSINESS WIRE)--Martifer Solar and Silverado Power have signed Power Purchase Agreements (PPAs) with Southern California Edison (NYSE:EIX) for 113 MWp of solar PV projects. These joint-venture projects, slated for completion in 2013, are primarily in Los Angeles County, and are forecasted to supply clean power to thousands of homes via a 20 year contract with Southern California Edison (SCE). This news closely follows an announcement today of the projects from SCE.
"This is an important milestone for Martifer Solar, since it will allow us to significantly expand our PV portfolio in a market with great growth potential," said Henrique Rodrigues, CEO of Martifer Solar.
The Martifer Solar-Silverado Power joint-venture projects received the largest allocation of SCE's Renewable Standard Contract program, representing over 40 percent of the contracted capacity. The 113 MWp agreements consist of nine projects within close proximity to major utility lines in Southern California. The deal is part of a growing portfolio of over 400 MW of utility-scale projects in development for Martifer Solar and Silverado Power within the United States.
"These projects are a first step in bringing local job growth to Los Angeles County by building clean energy generation facilities," said John Cheney, CEO of Silverado Power.
The Renewable Standard Contract program is a voluntary effort from SCE to procure renewable power from small to mid-sized generation facilities. Hans Isern, Vice President of Engineering for Silverado Power, stated "We are excited to work with SCE to bring cost-competitive renewables online quickly. SCE's Renewable Standard Contract program offers an important mechanism to meeting California's renewable and distributed energy goals."
For more information or to arrange a meeting with Silverado Power, please call Kim Angell or Steven Webb at (415) 512-0770.
About Martifer
Martifer is a multinational group focused on metallic construction and renewable energy, with more than 3,000 employees worldwide. Martifer is the Iberian market leader in metallic constructions, and aims to achieve market leadership positions in other selective markets, namely in Central Europe and Angola.
In the renewable energy sector, Martifer is active in two main sectors: Solar and wind. In the solar segment, Martifer works as a turnkey supplier, and has built a presence in 12 countries. In the wind segment, Martifer acts as a manufacturer of towers and components, as well as an installer and developer of wind farms.
Martifer SGPS SA is the holding company of the Martifer Group and has been listed on Euronext Lisbon since June 2007. In 2009, the revenues from its core businesses reached 606 million euro.
Martifer Solar is the solar energy division of Martifer Group, established in the Czech Republic, Italy, Greece, Belgium, France, Portugal, Spain, the United States, Slovakia, Canada and Cape Verde. To date it has participated in the development and construction of over 100 MWp of photovoltaic solar energy facilities worldwide.
About Silverado Power
Silverado Power is one of the nation's fastest growing solar development companies, providing complete solar solutions for utilities, landowners and communities. Silverado Power delivers a fresh solution to the burgeoning solar market through its unique combination of experience, scale, proprietary industry knowledge and regional know how. Unlike other companies in the solar energy development space, Silverado Power's hands-on approach shepherds the full life cycle of utility-scale solar development-from site acquisition, interconnection and PPA financing, to physical plant development, site ownership and operation. Silverado Power's efforts come at a critical time as the US aims to reduce its carbon footprint and transition off of fossil fuels. The company's unique approach to developing distributed utility-scale projects will allow it to quickly construct and bring renewable power plants online. For more information, please visit www.silveradopower.com.
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Contacts
Schwartz Communications
Kim Angell or Steven Webb, 415-512-0770
or
Martifer Solar - Spain
Silvia Alonso, +34 911 407 960
Corporative Communication
silvia.alonso@martifer.com
www.martifersolar.com
