North Coast Solar Stocks

November 10, 2009

Aerojet, Solar Power, Inc. and SMUD Dedicate 3.6 Megawatt Solar System – Announce 2.4 Megawatt Addition at Aerojet Site

Filed under: SOPW — Tags: , , — Jason @ 5:30 pm

At Six Megawatts, the Aerojet Project Will Be the Largest Single-Site Industrial Installation in California and One of the Largest in the U.S.

5:30 pm EST, Tuesday November 10, 2009

SACRAMENTO, Calif. & ROSEVILLE, Calif.–(BUSINESS WIRE)–Aerojet, a GenCorp (GY) company and Solar Power, Inc. (“SPI”)(SOPW), announced jointly today that the companies have entered into agreement to add an additional 2.4 megawatts to the single-axis tracker photovoltaic solar system currently installed at Aerojet’s Sacramento, California site. Construction of the 3.6 megawatt solar system at Aerojet’s facility was initiated in June of 2009. By expanding the system to six megawatts, the installation will be the largest single-site industrial location in California and one of the largest in the country. The site is located within the Sacramento Municipal Utility District (SMUD).

The announcement of an additional 2.4 megawatts was made during today’s dedication event and press conference hosted by Aerojet, SPI and SMUD. The event was held at the same location where California Governor Arnold Schwarzenegger signed an executive order on Sept. 15, 2009 calling for 33 percent of energy consumed in California to come from renewable resources by the year 2020. Heralding the expansion of the solar array, Governor Schwarzenegger said, “The addition of this large-scale solar project is further evidence that reliable, renewable and pollution-free technology is here to stay. And this project is great news for California because it will help us meet our ambitious renewable energy and environmental goals, lead to more homes and businesses powered by sunshine and create new jobs in the clean-tech industry.”

“We like to say ‘At Aerojet, it really is rocket science,” said Scott Neish, president of Aerojet. “For sixty years, energy management has been at the root of our aerospace operations, and our venture into broader energy management programs demonstrates the real commitment Aerojet is making towards operating in a more sustainable fashion and reducing our company’s carbon footprint. This solar partnership is a concrete example of this commitment.”

The solar array at Aerojet is a ground-mounted system utilizing a single-axis tracking system that follows the sun’s course throughout the day to maximize electricity production. The additional array will utilize 11,712 SPI 205 watt modules mounted atop eight tracking arrays. When completed, the entire six megawatt system will cover more than 40 acres of the Aerojet site and utilize 22 tracking arrays and 29,344 SPI 205 watt photovoltaic modules. Based on its performance characteristics, the SPI 205 watt module is currently the number one ranked PV solar module in its class with the California Energy Commission.

“Prior to this addition, the Aerojet project was already one of the largest system installations in the U.S. this year, and the foundational portion of our growing portfolio and pipeline of multi-megawatt projects. With a 40 percent increase in the size of the system, the Aerojet site is now host to the largest single-site industrial installation in California,” said SPI’s CEO & Chairman, Steve Kircher. “Aerojet is a wonderful company to work with and we are very happy about the addition to the system. It speaks volumes about our ability to install a superior solution on-time, on-target and on-budget,” Mr. Kircher concluded.

Installation of the 2.4 megawatt system addition is expected to be completed in April 2010. SMUD is scheduled to interconnect the system to the power grid at that time. “SMUD is very proud to be a partner in this project,” said John DiStasio, SMUD General Manager and CEO. “We have a long solar heritage dating back to the early 1980s when we built the solar PV plant which is now the oldest megawatt-scale photovoltaic power plant continuously operating in North America. The Aerojet solar project is a huge benefit in terms of improving the environment of our community and the region as well as being a valuable part of increasing the stability and reliability of the SMUD electrical grid.”

During its first year of use, the Aerojet system will offset 6,003 tons of carbon dioxide, 23.8 tons of sulfur dioxide and approximately 9.3 tons of nitrogen oxide that would have otherwise been produced using fossil fuel power production. The first-year net clean energy benefits equate to offsetting 11,825,814 automobile miles driven or the clean air benefits realized from planting 1,396,423 trees. With a system life expectancy of 25 years, the cumulative life-cycle environmental offsets for a system of this scope are significant.

About Aerojet:

Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company’s excess real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the companies’ Web sites at http://www.Aerojet.com and http://www.GenCorp.com.

GenCorp Safe Harbor Statement:

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time to time in GenCorp’s filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine GenCorp’s future results are beyond the ability of GenCorp to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. GenCorp undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

About SMUD:

As the nation’s sixth largest publicly owned utility, SMUD has been providing low-cost, reliable electricity for more than 60 years to Sacramento County (and a small portion of Placer County). SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment. For more information visit us at smud.org.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: