Thursday, January 24, 2013
BALTIMORE--(BUSINESS WIRE)--Constellation today announced the completion of an aggregate 5.7-megawatt (DC) solar generation project for Portland General Electric (PGE) in Lake County, Oregon. Constellation financed as well as owns and operates the solar power system. In return, PGE purchases and receives all of the electricity generated by the solar panels at a fixed rate from Constellation under a 25-year solar power purchase agreement (PPA).
“Portland General Electric is working hard to diversify its portfolio of renewable generating resources while maintaining a reliable supply of power for its customers,” said Jim Lobdell, PGE’s vice president for power operations and resource strategy. “The project marks a significant addition to that effort, and will help us serve homes and businesses in our service area for years to come.”
“Constellation congratulates Portland General Electric for its commitment to renewable energy,” said Michael D. Smith, vice president of solar and energy efficiency sales for Constellation. “This project is a great example of the success of public and private partnerships in boosting the development of renewable generation.”
The project was supported in part through a grant from the Energy Trust of Oregon and a business energy tax credit from the Oregon Department of Energy. Through its PPA with Constellation, PGE did not have to commit upfront capital to build the project and retains the environmental attributes of the project to meet the state of Oregon’s renewable portfolio standard requirements.
The solar project was co-developed by Obsidian Finance Group and Smart Energy Capital. Belectric, Inc., provided engineering, procurement, construction services and construction financing before Constellation acquired the project. Approximately 75 people were employed during construction. Belectric, Inc., will also provide operations and maintenance services for the project.
The solar power system comprises more than 20,000 ground-mounted photovoltaic panels. The project is expected to generate approximately 10 million kilowatt-hours of electricity per year. Generating the same amount of electricity using nonrenewable sources would result in the release of an estimated 2,250 metric tons of carbon dioxide annually, or the equivalent emissions from 379 passenger vehicles, according to U.S. Environmental Protection Agency data.
Constellation currently owns and operates more than 126 megawatts of solar installations that have been completed or are under construction for commercial and government customers throughout the United States. Constellation commercial customers, universities, school systems, hospitals and government agencies interested in on-site solar installations of 1 megawatt or larger may contact Constellation at email@example.com or 1-877-427-2005.
The Constellation family of retail electricity and natural gas suppliers (www.constellation.com), are subsidiaries of Exelon Corp., and are leading competitive retail suppliers of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation’s retail businesses serve more than 100,000 business and public sector customers, including more than two-thirds of the Fortune 100, and nearly one million residential customers.
Exelon Corporation (NYSE:EXC) is the nation’s leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at: www.exeloncorp.com.
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