Sustainable Energy Capital Partners (SECP), a California-based developer of renewable energy projects, announced a joint venture partnership with South Korea’s KISCO Corporation (104.700.KS) to build large-scale solar projects in Southern California.
The partnership allows for both companies to jointly develop up to five projects and to incorporate KISCO, with their GETWATT thin-film PV modules, as one of the module suppliers. The first of five solar projects has already received a 20-year power purchase agreement from Southern California Edison (SCE)(NYSE: EIX) for the development of a 20-megawatt (MW) solar farm.
Parsons Corporation, an international engineering, construction, technical, and management services firm, has been contracted to build the project. Construction is scheduled to take place during the second half of the year and is expected to create numerous solar jobs for the local community.
Utility companies in California are required to generate one-fifth of their electricity from renewable sources by the end of 2010 and one-third by 2020.
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