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A solar investment in California’s Imperial Valley
10/10/13
We’re celebrating Halloween early with our “lucky thirteenth” renewable energy investment: a $103 million commitment to Mount Signal Solar, a 265.7 MW solar photovoltaic plant in Imperial County, CA. The project will generate enough energy to power 80,000 homes.
Like many states, California has a
goal
of increasing the amount of energy procured from renewable sources. The energy from Mount Signal Solar, which has been contracted to San Diego Gas & Electric, will help California meet this goal. The project, which is owned and operated by Silver Ridge Power (formerly AES Solar), will also create over 900 construction jobs in a part of the state that suffers from high unemployment.
Thirteen renewable energy investments in three years!
That’s a lot of energy—the over $1 billion we’ve committed to these projects will generate enough electricity each year to power more than 500,000 U.S. homes. Why are we making these investments? It’s simple: we believe in a clean energy future, and we think that companies like ours can help make it happen. We invest in these projects because they make business sense, because they help put more renewable energy on the grid, and because they have a positive impact on the local economies where they operate.
The Mount Signal Solar project in Imperial County, CA
Posted by Kojo Ako-Asare, Head of Corporate Finance
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