SunEdison and Constellation Energy Sign Solar Renewable Energy Credit Agreement in Maryland
January 31 2008 - 4:32PM
Business Wire
SunEdison, North America�s largest solar energy services provider,
today announced a 15-year agreement to sell Constellation Energy
Commodities Group, Inc., a subsidiary of Constellation Energy
(NYSE: CEG), an estimated four megawatts (MW) of solar renewable
energy credits in Maryland. When completed, the installations
covered under this agreement will provide 30 percent of Maryland�s
Renewable Portfolio Standard solar energy requirements in 2008, and
almost 60 percent in 2009. This long-term agreement will permit
SunEdison to install solar systems on its customers� properties,
and the estimated four MW of facilities to be built will more than
triple the capacity of solar generation operating in the state.
�This transaction furthers the deployment of large-scale solar
systems nationwide,� said SunEdison CEO Thomas (Tom) Rainwater. �It
ensures that Maryland plays a significant part in meeting the state
and nation�s energy needs. SunEdison is passionate about bringing
solar energy to our home state.� �Purchasing clean, renewable
energy credits through Maryland�s competitive marketplace is one of
the most important ways we can help the state achieve its ambitious
Renewable Portfolio Standard goals,� said Paul J. Allen, chief
environmental officer and senior vice president, Constellation
Energy. �Agreements such as this one underscore that the
competitive marketplace is attracting investment and driving
innovation in clean energy technology.� About SunEdison Sun Edison
LLC is North America�s largest solar energy services provider and
operates across a global marketplace. SunEdison provides
solar-generated energy at or below current retail utility rates to
a broad and diverse client base of commercial, municipal, and
utility customers. For more information about SunEdison, please
visit www.sunedison.com. The company is headquartered in
Beltsville, MD. About Constellation Constellation Energy
(http://www.constellation.com), a FORTUNE 125 company with 2007
revenues of $21 billion, is the nation�s largest competitive
supplier of electricity to large commercial and industrial
customers and the nation�s largest wholesale power seller.
Constellation Energy also manages fuels and energy services on
behalf of energy intensive industries and utilities. It owns a
diversified fleet of 78 generating units located throughout the
United States, totaling approximately 8,700 megawatts of generating
capacity. The company delivers electricity and natural gas through
the Baltimore Gas and Electric Company (BGE), its regulated utility
in Central Maryland.
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