$5 MILLION to $8 MILLION IN AVOIDED UTILITY COSTS POWERING BETTER EDUCATION FOR STUDENTS
BELMONT, Calif., – SunEdison, Inc. (NYSE:SUNE), a leading solar technology manufacturer and provider of solar energy services, and Irvine Unified School District, today announced the completion of three new solar installations at schools in Orange County, California. The school district now powers 22 schools with SunEdison solar photovoltaic (PV) systems, and expects to avoid an extra $5 million to $8 million in energy costs over the next 20 years. These avoided costs allow the school district to provide additional educational resources for their students now and for many years to come.
"We're proud to announce that we are anticipating $5 million to $8 million on avoided energy costs over the next 20 years by working with SunEdison," said Mark Sontag, director for math, science, and career technical education at Irvine Unified School District. "We accomplished this with zero up-front costs, and zero maintenance costs through a power purchase agreement (PPA) with SunEdison. That extra budget means more resources for our teachers and students. As the largest solar powered school district in Orange County with over 5.4 megawatts (MW) installed, we're taking this opportunity to educate our children on the benefits solar energy can bring to the community."
"The Irvine Unified School District is a wonderful success story and a role model for other school districts," said Sam Youneszadeh, managing director of west coast distributed generation at SunEdison. "They're inspiring to us, and we hope many more schools are able to follow their lead and invest more on education by reducing their energy bill."
The Irvine Unified School District will be building new schools over the next 8 years to accommodate an anticipated 1,200 new students a year. Building on their success, the school district is working with SunEdison and their architects to incorporate solar into the design of all new schools. SunEdison and its financing partners, including TerraForm Power (NASDAQ: TERP), a SunEdison Company, will be the owner-operators of the systems.
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility consumers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa, India and Asia. SunEdison's common stock is listed on the New York Stock Exchanges under the symbol "SUNE." To learn more visit www.sunedison.com.
About Irvine Unified School District
Located in Orange County, California, the Irvine Unified School District comprises a community of learners, committed to the highest quality educational experience. The Irvine Unified School District educates a diverse population of more than 30,000 K-12 students in 22 elementary schools, six middle schools, four comprehensive high schools and one continuation high school.
SOURCE SunEdison, Inc.
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