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SunEdison and Mayor Bloomberg introduce New York City's largest solar energy project

Thursday, Dec 05, 2013

NEW YORK, Dec. 4, 2013 /PRNewswire/ -- SunEdison (NYSE:SUNE), one of the world's largest solar energy providers, last week introduced an innovative renewable energy project in partnership with America's largest city.

New York City Mayor Michael Bloomberg, alongside SunEdison officials, unveiled a progressive partnership to build what will be the City's largest solar energy project.  "Freshkills was once the site of the largest landfill in the world. Soon it will be one of the City's largest parks, and the site of the largest solar power installation ever developed within the five boroughs," said Mayor Bloomberg. "Over the last twelve years we've restored wetlands and vegetation and opened new parks and soccer fields at the edges of the site. Thanks to the agreement today with SunEdison, we will increase the amount of solar energy produced in New York City by 50 percent."

The project, which is scheduled to break ground in the second half of 2015, will consist of two photovoltaic systems totaling up to 10 megawatts (MW) in size, and will utilize between 30,000 and 35,000 high efficiency solar panels installed across 47 acres leased to SunEdison at Freshkills Park. The project will increase the city's renewable energy capacity by 50 percent and will help reduce greenhouse gas emissions and local pollutants.

"Thank you to Mayor Bloomberg and his team for having the vision to use this 47-acre plot that was once a landfill to generate clean, renewable electricity and also provide businesses in New York with (energy) cost savings," SunEdison General Manager Attila Toth said at a press conference with Mayor Michael Bloomberg and his staff. "The solar systems we intend to build at Freshkills Park will be tangible proof of the Mayor's commitment to renewable energy, and will serve as a model of public private partnerships by providing economic benefit to both the city and businesses located within its five boroughs."

Fresh Kills landfill was closed in 2001. When reopened, the converted 2,200 acre park will be the largest in the city and help to meet the PlaNYC goal of a 30-percent reduction in greenhouse gas emissions by 2030.

"It is only fitting that Freshkills, once a daily dumping ground, will become a showcase of urban renewal and sustainability," said Mayor Bloomberg during the event to introduce the project. "Because of a dramatic reduction in the cost of panels, (solar) has become competitive without subsidies with other forms of energy."

SunEdison is proud to be a part of this project," added Toth.  "We intend to demonstrate for this city and for the world, just why our customers have continued to trust SunEdison.  This Freshkills Park project further exemplifies how we are meeting our customer's renewable energy needs and growing our business in a significant way."

Forward-Looking Statements   Certain matters discussed in this press release are forward-looking statements, including that the project is scheduled to break ground in the second half of 2015; will increase the city's renewable energy capacity by 50 percent; will consist of two photovoltaic systems totaling up to 10 megawatts (MW) in size; and will utilize between 30,000 and 35,000 high efficiency solar panels installed across 47 acres leased to SunEdison at Freshkills Park.  Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include normal commissioning risks attendant to large scale solar projects, delays or interruptions in construction, deployment or activation; the timely availability of required permits and authorizations for projects from governmental entities and third parties; changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison's filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdison's judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.

About SunEdison SunEdison is a global leader in semiconductor and solar technology. SunEdison's semiconductor business has been a pioneer in the design and development of silicon wafer technologies for over 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, SunEdison enables the next generation of high performance semiconductor devices. SunEdison's solar business develops, finances, installs and operates distributed power plants, delivering predictably priced solar energy and services for its commercial, government and utility customers. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE."  To learn more visit www.sunedison.com.


SOURCE SunEdison

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