SunEdison (WFR) To Build PV Installations in New Mexico For Xcel (XEL)

SunEdison, a subsidiary of MEMC Electronic Materials, just announced that it has been selected by Xcel Energy’s subsidiary Southwestern Public Service Company to build five 10 MW solar PV installations in New Mexico, for a total of 50 MW of solar power.

Under the terms of the agreement, SunEdison will finance and build the installations and Xcel will buy the power under a 20-year purchase agreement.

In a press release, Riley Hill, president and CEO of Southwestern Public Service Company, commented on the news:

“We are thrilled to begin harvesting New Mexico’s rich solar resources, and we are equally proud to add this project to our growing base of wind energy, as we diversify our renewable energy portfolio.”

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