SunEdison, a leading worldwide solar energy services provider and subsidiary of MEMC Electronic Materials, Inc., was awarded a ground-mounted 14.5 megawatt (MW) solar service contract with Davis-Monthan Air Force Base (DMAFB) in Tucson, Arizona.
The 14.5MW solar installation is made possible through a solar power service agreement in which SunEdison will finance, design, construct, operate and maintain the approximately 130 acre ground-mounted solar deployment. SunEdison will also maintain a long-term ground lease agreement with DMAFB for the use of their land for the solar installation. In return, DMAFB will purchase the energy produced from the solar power plant to offset their demand from the grid at long-term predictable energy pricing. There are no upfront costs required from DMAFB for the solar deployment.
“With our strong financing capabilities and our track record of timely large-scale deployments, SunEdison is able to provide smart solar solutions with no upfront capital costs and long-term predictable energy pricing,” stated Jaime A. Smith, Vice President of Sales for SunEdison. “SunEdison is proud to be awarded this contract and looks forward to working with DMAFB to the completion and activation of the solar power plant.”
When completed, the 14.5MW solar farm will produce approximately 31.5 million kWh of energy annually and over 575 million kWh over twenty years. That is enough energy to power over 53,000 homes for one year. It is expected that once completed, the 14.5MW solar power plant will deliver 35% of DMAFB’s total base load of energy.
“This project highlights not only the Air Force’s commitment to renewable energy but also Arizona’s commitment to renewable energy,” said Col. John A. Cherrey, 355th Fighter Wing commander. “Several years of industry and government teamwork was required to bring this renewable energy project to this point. The use of emission-free solar power to reduce our dependence on fossil fuels, as well as long-term savings on electricity costs, is a great benefit to the base.”
About SunEdison
SunEdison is a global provider of solar-energy services. The company develops, installs, finances and operates distributed power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers. In 2009, SunEdison delivered more kilowatt hours (kWh) of energy than any other solar services provider in North America. For more information about SunEdison, please visit www.sunedison.com.
About MEMC
MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of silicon wafer technologies for 50 years. With R&D and manufacturing facilities in the U.S., Europe, and Asia, MEMC enables the next generation of high-performance semiconductor devices and solar cells. Through its SunEdison division, MEMC is also a developer of solar power projects and North America’s largest solar energy services provider.
MEMC’s common stock is listed on the New York Stock Exchange under the symbol “WFR” and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.
Forward-Looking Statements
Certain matters discussed in this press release are forward-looking statements, including that when completed, the 14.5MW solar farm is expected to produce approximately 31.5 million kWh annually and over 575 million kWh over twenty years; and the expectation that once completed, the 14.5MW solar power plant will deliver 35% of DMAFB’s total base load of energy. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include delays or interruptions in construction of the solar power plant; the timely availability of required permits and authorizations for projects from governmental entities and third parties; changes in applicable regulatory requirements and incentives for production of solar power; and other risks described in MEMC’s filings with the Securities and Exchange Commission, including its Form 10-K for the 2009 fiscal year and its quarterly reports on Form 10-Q for the first and second quarters of 2010. These forward-looking statements represent MEMC’s and SunEdison’s judgment as of the date of this release. MEMC and SunEdison disclaim, however, any intent or obligation to update these forward-looking statements.
Contacts:
Media:
Brad Oswald
Sr. Marketing Communications Manager, SunEdison
(443) 909-7200
Bill Michalek
Director, Corporate Communications
MEMC Electronic Materials, Inc.
(636) 474-5443
Investors/Analysts:
Kurt Bruenning
Treasurer
MEMC Electronic Materials, Inc.
(636) 474-5925
SOURCE SunEdison
