Panda Solar Ventures LLC, an affiliate of Panda Energy International Inc., and Con Edison Development, a wholly owned subsidiary of Consolidated Edison Inc., have signed an agreement to develop, construct and operate utility-scale solar electric power projects in the northeast U.S.
The agreement initially calls for the development of two solar photovoltaic farms, between 15 MW and 20 MW in size, with the possibility for additional solar projects to be announced at a later date.
Under the terms of the agreement, each company will be equal partners to the joint venture. Panda will assume primary responsibility for managing the development, engineering and construction of the projects. Con Edison Development will assume primary responsibility for managing the operation, maintenance and financing of the solar facilities, and will support the development, engineering and construction efforts.
SOURCE: Panda Energy