Cogentrix Energy Completes SEGS Acquisition

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Cogentrix Energy LLC, through its wholly owned subsidiary Cogentrix Solar Services, has closed its acquisition of Sunray Energy Inc., the owner and operator of facilities formerly known as Solar Energy Generation Systems I and II (SEGS I and SEGS II), completing a transaction that was entered into on Sept. 30, 2008.

SEGS I and II, the first two utility-scale solar trough plants built in the world, deliver up to approximately 43 MW of electric capacity under contract to Southern California Edison. The plants were completed and placed in service in 1984 and 1985 and are located in San Bernardino County, Calif.

Cogentrix says it plans to make a significant investment in retrofitting and upgrading the delivery capability and reliability of SEGS I and II to enable the plants to continue to supply power into the California renewable market. Details of the SEGS I & II acquisition were not disclosed.

SOURCE: Cogentrix Energy LLC

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