According to an announcement from Panda, the initial terms of the agreement call for two solar photovoltaic arrays to be developed, each between 15 and 20 megawatts in size with the potential for additional arrays in the future.
Panda is expected to be responsible for the development, engineering and construction of the projects and expects to be able to leverage its current relationships with the industry's service providers and equipment builders.
In turn, Con Edison Development will be responsible for management, maintenance and financing of the projects, while also contributing to other support capacities. It will also market the solar renewable energy credits, as well as the electricity, to be generated by the facilities.
"Con Edison brings a substantial market presence, long-standing operations expertise and a wealth of resources to the table. We look forward to working with them to help deliver clean, renewable energy to the mid Atlantic and New England areas of the country," said Todd Carter of Panda Energy.
