May 21, 2014
SunEdison (NYSE: SUNE), a leading solar technology manufacturer and provider of solar energy services announced a partnership with Rosedale Union School District (RUSD) in Bakersfield, Calif. to install, monitor and manage 1.8 MW of solar at the district's nine schools. This solar energy and efficiency project is expected to save the district approximately $55,000 in year one and more than $2 million in energy costs over 20 years.
Solar shade canopies will be constructed in parking lots at the district's schools, taking advantage of underutilized space to produce clean solar energy and provide needed shade for parking. Scheduled for completion by the end of this year, the project is expected to significantly reduce electricity usage, freeing up funds for important academic and enrichment programs across the district. SunEdison will install, monitor and maintain the solar system at no additional expense to the district.
"Our partnership with SunEdison will allow Rosedale Union School District to maximize our use of clean energy, and significantly reduce our utility expenses from day one, while providing us with a fixed cost of energy for the next 20 years," said John G. Mendiburu, Ed.D, Superintendent, Rosedale Union School District. "In addition to the cost savings and added value to the classroom, this project helps reduce our carbon footprint and create a sustainable and brighter future for our children."
"Leaders of the Rosedale Union School District have shown forward-looking vision in meeting the energy needs of their growing community," said Bob Hopper, Vice President Distributed Generation Origination & Strategy at SunEdison. "SunEdison works with progressive school districts across California to reduce energy costs and we look forward to partnering with other districts to realize energy efficiencies and funnel those savings back to the classroom."
Nearly 5,000 SunEdison Silvantis(TM) modules will be installed as part of this project scheduled to begin in the summer of 2014. Once operational, the solar systems will be managed by the SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services. Data collected from the ROC is used to continuously improve the company's products, project designs and service offerings.
About Rosedale Union School District
The Rosedale Union School District (RUSD) is located in the northwest of Bakersfield, California and encompasses approximately twenty-eight square miles. The District provides kindergarten through eighth grade education services through seven elementary and two middle schools serving more than 5,400 students. Several schools within the District have been recognized by the California Department of Education as California Distinguished Schools.
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.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including that the project is expected to save the district approximately $55,000 in year one and more than $2 million in energy costs over 20 years; that the solar shade canopies are scheduled for completion by the end of this year; and that the expected to significantly reduce electricity usage, freeing up funds for important academic and enrichment programs across the district. 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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