8minutenergy Renewables and Saferay Sign 20MW Power Purchase Agreement with Southern California Edison (SCE) for Solar Power

Nation's Leading Independent Solar PV Developer Has Signed 325MWs in PPAs Since Last Year

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"We are grateful that SCE has awarded this PPA in its competitive RAM process. This is the third PPA in the last 12 months that we've secured, for a total capacity of over 325MW," - Martin Hermann, CEO, 8minutenergy Renewables

Folsom, CA (PRWEB) April 01, 2013

8minutenergy Renewables, LLC and saferay, Inc. today announced the signing of a 20-year contract to sell 20 megawatts-ac (26.3MW-dc) of clean, renewable solar energy from their Redcrest Solar Farm project in Kern County, Calif., to Southern California Edison (SCE). The transaction was conducted with 67RK 8ME, LLC, a subsidiary of Folsom, Calif.-based 8minutenergy Renewables, which is the nation's leading independent solar PV developer, and saferay, an independent solar power producer that performs EPC and owns more than 160MW of solar PV around the world. The two companies have a joint development agreement to develop and build the Redcrest Solar Farm project.

The Redcrest Solar Farm project is a utility-scale solar generation facility sited on 160 acres of low-productivity farmland. Construction is projected to begin in 2014, with the site expected to be operational and delivering renewable energy by mid-2015. This clean solar generation plant will displace the equivalent of approximately 54,000 metric tons of carbon dioxide (CO2) per year, which is equal to the amount that roughly 2.2 million trees would displace annually.

"We are grateful that SCE has awarded this PPA in its competitive RAM process. This is the third PPA in the last 12 months that we've secured, for a total capacity of over 325MW," said Martin Hermann, chief executive officer of 8minutenergy Renewables. "We are pleased that utilities and county, state and local officials have confidence in the ability of 8minutenergy and saferay to deliver on our solar projects. The Redcrest Solar Farm's annual production of approximately 48 million kilowatt hours (kWhs) of electricity will produce enough renewable solar energy to serve 9,000 households."

"We are excited that our project with 8minutenergy received a PPA from SCE, and we are very appreciative of the strong local support for this project," stated Boris Schubert, chief executive officer, saferay, Inc. "With our EPC track record, expertise and partners, saferay is ideally positioned to deliver the Redcrest Solar Farm."

The Redcrest Solar Farm project will create more than 50 direct and 100 indirect jobs in the area during the construction period. "The Redcrest Solar Farm will generate jobs and contribute to the local economy, while creating renewable energy that will abet SCE's efforts to help the state meet its 33 percent RPS mandate," said Tom Buttgenbach, president of 8minutenergy Renewables. "SCE is to be commended for their commitment to the people of Kern County, which had a December 2012 unemployment rate of 13.5%, which is nearly six percentage points above the national average of 7.6%, and nearly four points above the state of California's 9.7% rate."

The Redcrest Solar Farm is located in Kern County, Calif. The solar power system for the Redcrest Solar Farm will be comprised of state-of-the-art solar photovoltaic modules, related power electronics, and other components including an advanced tracking system that follows the sun to maximize energy production. The PPA contract is pending approval from the California Public Utilities Commission.

About saferay, Inc.
saferay, headquartered in Berlin, Germany, is a leader in the field of efficient and fast implementation of large-scale photovoltaic power plants. As an independent solar power producer saferay builds and finances PV plants primarily for its own asset base in order to shape future energy concepts in the world's leading energy markets. The company's EPC experience includes over 250 MW of installed PV capacity, from which it owns more than 160MW. For more information, visit http://www.saferay.com.

About 8minutenergy Renewables, LLC
8minutenergy develops, finances, engineers, constructs, holds, operates and maintains solar projects. To date, 8minutenergy has closed over $1 billion in solar Power Purchase Agreements; been awarded 325MW in PPAs; secured close to 1,000MW in General Interconnection Agreements (GIA); obtained Conditional Use Permits (CUP) for 7,500 acres; and has 15,000 acres under contract. Most recently, 8minutenergy successfully concluded the development of a 260MW solar plant in Imperial Valley, Calif. - Mount Signal Solar - which is now under construction. It represents the first of three phases of an approximately 800MW-dc (600MW-ac) planned solar PV power project - currently the largest in the world.

8minutenergy's proprietary transmission, land and economic analysis process and tools helps select optimal power plant sites for accelerated permitting with counties and utilities. All 8minutenergy solar projects are located on disturbed, low-value farm land. 8minutenergy strives to ensure that its solar power projects provide low cost, clean renewable energy from the sun with low environmental impacts, particularly when compared with public lands projects on pristine desert wildlands. 8minutenergy has offices in Folsom, Los Angeles, San Francisco, San Diego and El Centro, California. For more information, please call (916) 608-9060, send email to info@8minutenergy.com or visit http://www.8minutenergy.com.

Media Contacts:

8minutenergy Renewables
Kevin Butler
(415) 990-1545
kbutler@8minutenergy.com
http://www.8minutenergy.com

saferay
info@saferay.com


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