Con Edison Development (CED) develops, owns and operates renewable and energy infrastructure projects in North America. Through constructive collaboration, the company is focusing on renewable energy and gas assets as part of an overall corporate goal of responsible environmental stewardship. In 2012, CED tripled its portfolio of solar generation assets bringing on nearly 120 MW of new generation. This significant growth made it the fifth largest solar project owner in North America.
Along with developing new projects throughout Rhode Island, New Jersey, Massachusetts, and Pennsylvania, in 2012 CED acquired four solar developments totaling 144 MW situated in California. These projects provide enough power to serve about 30,000 homes. Each year the solar generation is expected to avoid nearly 230,000 tons of carbon dioxide, which is the equivalent of removing nearly 45,000 cars from the road every year for the life of the projects. The power and environmental attributes are being sold to Pacific Gas and Electric Company under 25-year power purchase agreements.
Con Edison Development has over 55 MW of 2013 projects that are in either late-stage development or in the early stages of construction, including a 2 MW project which will be the company’s first in the state of Rhode Island.