The California Public Utilities Commission ("CPUC") recently approved three 20-year power purchase agreements ("PPAs") established between wholly-owned subsidiaries of Client SunPower Corporation, Systems ("SunPower") and Southern California Edison ("SCE"), for three solar photovoltaic projects in California. The projects will be located near Los Banos and Rosamond, California, and will consist of 711 MW of new solar energy capacity in the aggregate.
In announcing approval of the PPAs without modification, CPUC President Michael R. Peevey stated, "As we look for ways of decreasing the cost of renewables, I'm glad to see that these contracts represent more than 700 megawatts that are below the market price referent."
Stoel Rives represented SunPower in the negotiation of the PPAs and related interconnection agreements with SCE. Jennifer Martin led the Stoel Rives client team with assistance from Bill Holmes and Jason Johns.