MEMC Electronic Materials (ticker: WFR, exchange: New York Stock Exchange (.N))
News Release -
California State University Bakersfield and SunEdison Celebrate Activation of 1.2MW Solar Parking Canopy
BELTSVILLE, Md., Feb. 9, 2011 /PRNewswire via COMTEX/ --
President of California State University Bakersfield (CSUB), Dr. Horace Mitchell and Sun Edison LLC, a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials (NYSE: WFR), will host today a "Flip the Switch" ceremony to commemorate the activation of the 1.2 megawatt (MW) solar parking canopy located on the CSUB campus.
The solar parking canopy was made possible through a Solar Power Service Agreement (SPSA) between CSUB and SunEdison that required no upfront costs from the university. CSUB will purchase the clean energy produced over a period of 20 years to offset their demand from the utility grid. CSUB will also retain the renewable energy credits generated by the production of clean energy from the solar parking canopy.
"CSUB is committed to reducing its carbon footprint and we are taking tangible steps in several areas to enhance our environmental sustainability," said Dr. Mitchell. "One of these steps is to purchase or produce at least 15 percent of our electricity from renewable sources. I'm pleased that, through our partnership with SunEdison, we will be able to exceed this goal as our new solar system will provide between 25 to 30 percent of our total energy use."
The 1.2 MW solar parking canopy will generate over 1.6 million kilowatt hours (kWh) of clean energy in the first year of operation and produce over 30 million kWh over 20 years. That is enough energy to power more than 3,100 average U.S. homes for one year. The solar parking canopy will offset more than 29 million pounds of carbon dioxide over the initial 20 years of operation - the equivalent of taking 2,800 cars off the road.
"SunEdison continues to provide smart solar solutions to universities and school systems across our nation," said Jaime A. Smith, U.S. Vice President of Commercial Systems for SunEdison. "By bringing together our strong financing capabilities along with cutting-edge technologies, SunEdison makes affordable solar solutions a reality for universities like CSUB."
The activation of the 1.2MW solar parking canopy marks the eighth solar power deployment for the CSU system by SunEdison, totaling more than 4.3MW of solar capacity.
Situated in the heart of the west coast's oil- and food-producing regions and located at a logistics crossroad of east-west and north-south transportation, CSU Bakersfield is the only regionally comprehensive public university campus within a 100-mile radius. The university offers excellent undergraduate and graduate programs advancing the intellectual and personal development of its students. CSU Bakersfield is committed to scholarship, diversity, service, global awareness and life-long learning. The university collaborates with partners in the community to increase the region's overall educational level, enhance its quality of life, and support its economic development.
SunEdison is a global provider of solar-energy services. The company develops, finances, installs 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 2010 SunEdison deployed more than 160 Megawatts of solar throughout the world. For more information about SunEdison, please visit www.sunedison.com.
MEMC is a world leader in semiconductor and solar technology. 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 subsidiary, MEMC is also a developer of solar power projects and a worldwide leader in solar energy services. 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.