Visions - Fall 2013 - (Page 18)

POWER BUSINESS Desert Sunlight he Desert Sunlight Solar project, a 550MW solar power project in the Californian Mojave Desert, marked Sumitomo Corporation's first U.S. solar power project. The 4,100-acre project is the largest solar photovoltaic facility approved for U.S. public land, according to the U.S. Department of the Interior, and will generate enough electricity to supply more than 165,000 homes and displace 300,000 metric tons of greenhouse emissions per year. Desert Sunlight has secured Power Purchase Agreements (PPAs) to supply clean energy to Californian customers for the next two decades. This solar project was initially developed by First Solar Inc., the largest U.S. utility-scale solar project developer, and today we share a co-investor role with our partners, GE Energy Financial Services and NextEra Energy Resources. T The farm, just east of Palm Springs, expands Sumitomo's renewable energy portfolio, which already includes over 1,800 MW in projects across the United States. The installation is located on approximately 4,100 acres, and the facility is estimated to create more than 630 jobs at peak construction. First Solar will construct, operate and maintain the project, which uses the company's advanced thin-film PV technology. Desert Sunlight has secured Power Purchase Agreements (PPA) to supply Southern California Edison with 250MW, and Pacific Gas & Electric with 300MW of clean energy for the next two decades. Desert Sunlight supports the initiatives of the State of California of a 33% Renewable Portfolio Standard of 15,000-20,000MW of renewable energy by 2020. "The investment in Desert Sunlight is a good representation of what Sumitomo is doing in regards to supporting a clean energy future," said Teruyuki Miyazaki, Vice President, SCOA Power & Telecommunications Business. "This, along with our earlier investments in major renewable energy projects in the U.S., allows us to leverage our experience and know-how as a 18 v i s i o n s F a l l 2 0 1 3 long-term strategic investor and work with strong partners on high-quality renewable energy projects in the advanced stages of development or construction." "Sumitomo has repeatedly proven to be a knowledgeable and reliable world-class partner," said Alex Urquhart, president and CEO of GE Energy Financial Services at the time of Sumitomo's participation in the project. "We welcome the Sumitomo team to the Desert Sunlight project and look forward to expanding our relationship through future transactions." SCOA and SC will build upon its investment in Desert Sunlight and will continue to actively seek opportunities to develop, construct and own solar and other renewable energy projects in the advanced development phase in the U.S. and Canada.

Table of Contents for the Digital Edition of Visions - Fall 2013

Visions - Fall 2013
Contents
What is Infrastructure?
Interview with GM of Steel Group
Rail Supply Business
FOCUS: Union Pacific and Canadian National Ra
FOCUS: Arkansas Steel Associates
Structural Business
Interview with GM of Machinery & Power Business Group
Rail Systems Business
Automotive Business
FOCUS: New Mazda Plant
Aerospace Business
Renewable and Conventional Power Business
FOCUS: Desert Sunlight
Construction Equipment Business
Logistics Business
Corporate Social Responsibility - Clean Water Projects
The View from Washington

Visions - Fall 2013