February 20, 2014
SunEdison (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, and MIC Solar Energy Holdings, a subsidiary of Macquarie Infrastructure Company LLC (NYSE:MIC), announced the completion of a 16.4 megawatt (MW) photovoltaic (PV) solar power plant located outside Tucson, Arizona on Davis-Monthan Air Force Base (AFB). The plant is the largest solar energy facility at any U.S. Department of Defense installation and is expected to reduce the Air Force's utility costs by $500,000 annually for the next 25 years.
"This project was very rewarding for our team because we are helping save our fellow taxpayers' money," said Bob Powell, president of North America, SunEdison. "The Air Force, like other branches of the armed forces, is a perfect candidate for solar power because they have high electricity demands and often have large plots of underutilized land. We can help them use that land to generate significant cost savings that can be reinvested into our country."
The project became a reality thanks to a public/private alliance between Davis-Monthan AFB, SunEdison, The North American Development Bank (NADB), MIC Solar Energy Holdings, LLC, Chevron Energy Solutions and local officials. MIC Solar Energy Holdings, which specializes in infrastructure investments, took ownership of the project. The SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services, will manage plant operations through a contract with MIC Solar Energy Holdings.
The plant, which is located on two plots of previously underutilized land totaling 170 acres, is designed to provide 35 percent of the base's electricity requirements and is expected to generate enough electricity each year to power 5,173 houses. As the largest consumer of energy in the federal government, the Air Force is working to increase its use of renewable electricity to 25 percent by 2025.
Speaking about the project, Col. Kevin Blanchard, Commander of Davis-Monthan AFB said; "This project is the result of a symbiotic relationship between private and public organization. By coming together and combining our expertise we've successfully completed a project that many initially doubted was possible. The results speak for themselves, everyone's hard work has paid off in a way that is helping us reduce expenses and be good stewards of the environment."
The Davis-Monthan AFB solar power plant utilizes SunEdison Silvantis' Solar Photovoltaic (PV) Modules. SunEdison polysilicon and wafers are the foundation for Silvantis modules, which are designed for maximum efficiency and durability.
"When SunEdison first proposed building this system at Davis-Monthan AFB, a project of that size was unheard of. We knew it was ambitious but also visionary," said David G. Hutchens, President and Chief Operating Officer of Tucson Electric Power. "Through diligence and expertise, they made the system work for all parties. This is a very successful example of the possibilities of public/private partnerships."
SunEdison is a global leader in semiconductor and solar technology. SunEdison's semiconductor business has been a pioneer in the design and development of silicon wafer technologies for over 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, SunEdison enables the next generation of high performance semiconductor devices. SunEdison's solar business develops, finances, installs and operates distributed power plants, delivering predictably priced solar energy and services for its commercial, government and utility customers. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
About Macquarie Infrastructure Company
Macquarie Infrastructure Company (MIC) owns, operates and invests in a portfolio of infrastructure businesses. Infrastructure businesses are the providers of the basic services, facilities and technology upon which the growth and development of a modern community depends. MIC offers investors an opportunity to participate in the ownership of such businesses.
MIC's businesses consist of an airport services (FBO) business, a 50% interest in one of the largest bulk liquids terminalling businesses in the U.S., a gas processing and distribution business, and a portfolio of contracted power and energy investments, consisting of controlling interests in five solar power generation facilities (MIC Solar Energy Holdings) and a controlling interest in a district energy business. To learn more visit www.macquarie.com/mgl/com/mic/about
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including that the project is expected to generate electricity cost savings of $500,000 annually for the next 25 years; and is expected to generate enough electricity each year to power 5,173 houses. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.
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