CED acquires 50 pc stakes in RET Capital’s project

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ConEdison Development (CED), a New York State-based renewable energy projects developer, has acquired 50 percent interest in the 240 MW AC  Panoche Valley Solar Farm in San Benito County, California. The project was owned by Renewable Energy Trust Capital.

According to a statement, CED will provide construction management, operations and maintenance, and asset management for the project.

Construction of the Panoche Valley project which will be comprised of about 1.1 million panels is scheduled to commence by the end of the year.

The project is sited about 140 miles southeast of San Francisco.

CED has successfully developed, and owns and operates facilities generating more than 650 MW of renewable power across California, Arizona, Nevada, Texas, Nebraska, New Jersey, Massachusetts, Pennsylvania, South Dakota and Rhode Island.

The statement adds that CED is an unregulated subsidiary of Consolidated Edison, the oldest and one of the largest investor-owned energy companies of the US, with approximately $13 billion in annual revenues and $45 billion in assets.

Ajith Kumar S

editor@greentechlead.com