) has co-partnered with privately held Turner Renewable Energy to
take over the Apex Solar Project from SunEdison - a subsidiary of
MEMC Electronic Materials
). However, the financial aspects of the deal were not
Located in Nevada, the 20-megawatt solar photovoltaic power
plant spreads across a 154-acre site in the City of North Las
Vegas, Clark County. Southern Company aims to commence commercial
operations at the plant during the third quarter of 2012. The plant
already started building the solar array in October 2011.
The Apex Solar Project - which was constructed by the leading
international supplier of solar energy services, SunEdison -
comprises nearly 88,000 poly-crystalline solar modules provided by
Trina Solar. SunEdison will continue to oversee the facility's
ongoing operations and maintenance.
The electricity generated by the facility will be bought by the
Nevada Power Company, a wholly owned unit of
NV Energy Inc
), under the terms of the 25-year power purchase agreement.
Ted Turner, who owns Turner Renewable Energy, formed a strategic
collaboration with Southern Company in January 2010. The two
companies were interested in pursuing projects for the development
of renewable sources of energy in the United States.
In this regard, in March 2010, the companies acquired a
30-megawatt Cimarron Solar Facility on an acreage adjoining
Turner's Vermejo Park Ranch near Raton, New Mexico.
Southern Company stated that the partnership with Turner will
allow it to explore significant solar power projects making them
commercially viable by the use of high technological level.
We acknowledge the company's efforts in achieving growth from
this form of natural energy, considering that solar projects are
eco friendly, given their significantly lower emissions of
Southern Company is one of the largest electric utility holding
companies in the U.S., and is the premier energy company serving
the Southeast. It remains a leader in power plant productivity,
cost control (operating and construction) and new technology
However, the challenging economic environment and increased
spending levels to ensure regulatory compliance may hamper the
company's results in the next few quarters. As such, we do not
anticipate a significant upside in the near future and expect the
stock to perform in line with the broader market.
NV ENERGY INC (NVE): Free Stock Analysis Report
SOUTHN COMPANY (SO): Free Stock Analysis Report
MEMC ELEC MATRL (WFR): Free Stock Analysis
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