Constellation Energy Resources - an
) business wing - has constructed a 5.7 MW solar power project in
Lake Country, OR. The Exelon unit has already secured a long-term
power purchase agreement for the electricity generated from this
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Constellation Energy will sell the entire output from the plant
to Portland General Electric (PGE) for the next 25 years. The
long-term power purchase agreement will help Portland General
Electric to diversify its generation resources and fulfill the
renewable energy standards of the State of Oregon.
The solar system consisting of 20,000 ground-mounted photovoltaic
panels will generate 10 million kilowatt hours of power annually.
At the same time it will reduce green house gas emission by 2,250
metric tons per year.
Exelon generates most of its electricity from nuclear power
plants with more than 60% of its total generation coming from
nuclear powered units. Even though the company adheres to all
necessary safety measures, nuclear power generation has been a
debatable issue worldwide since the nuclear debacle in Japan.
In this context it is encouraging to note that the company is
also venturing into environmentally friendly power projects to
enhance its capacity. At present, nearly 10% of Exelon's total
production come from renewable sources with the proportion rising
If we take a look at the fuel mix for power generation, there are
quite a few big names mostly operating coal-fired units.
American Electric Power Co.
) generate more than 50% of their electricity from coal-fired
plants. On the other hand we also have producers like
) generating more than 50% of their power from renewable sources.
With as many as 30 U.S. states and the State of Columbia having
enforceable renewable portfolio standards or other renewable
generation policies, we believe generation from renewable sources
will continue to increase in the coming years.
Chicago, Illinois-based Exelon Corporation engages in generation,
transmission, distribution and sale of electricity to
residential, commercial, industrial and wholesale customers. With
a market capitalization of $16.87 billion, the company has 19,267
full time employees. Exelon currently retains a Zacks Rank #3