Pacific Valley, LLC to Partner with Cadmos on L.A. Solar Project The 20-megawatt Ruby Solar Photovoltaic project, located on 160 acres in Los Angeles County, will power up to 5,000 California homes.
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Pacific Valley, LLC to Partner with Cadmos on L.A. Solar Project
The 20-megawatt Ruby Solar Photovoltaic project, located on 160 acres
in Los Angeles County, will power up to 5,000 California homes.
Santa Barbara, California (September 9, 2010) - On August 1st, Pacific Valley, LLC announced its new joint venture with European solar company Cadmos Energias Renovables to complete the development, construction and commissioning of a 20-megawatt photovoltaic power project.
Known as Ruby Solar, LLC, the system will be installed on 160 acres of land in Los Angeles County and connected to the Southern California Edison power grid, where it will produce enough electricity to power an average of 5,000 California homes upon completion. With construction expected to begin in mid-2011, Ruby Solar will utilize Cadmos' thin film solar panels and employ their proprietary, cost-effective ground mounting system, while Pacific Valley, who performed the initial site selection and qualification, will continue to be responsible for the interconnection, permitting and preconstruction development.
"It seemed like a natural fit to combine Pacific Valley's expertise in delivering high-value, construction-ready solar PV projects with the impressive engineering and construction experience of the Cadmos team," said Dan Firestone, Chairman of the Board for Pacific Valley, LLC. "Working together, the stage is set for this exciting project to be one of the first 20MW solar projects to come on-line in the State, helping to meet the needs of California's renewable energy market."
This global partnership leverages Pacific Valley's unique expertise in optimal site selection, permitting and interconnection design and Cadmos' depth and experience in photovoltaic plant design, construction and commissioning, thus capitalizing on the complementary strengths of both companies.
"As a cornerstone of our U.S. strategy, we felt that it was critical to work with a partner that can provide us with a pipeline of high-quality photovoltaic projects," said David Naranjo, Chairman of Cadmos Energias Renovables. "Pacific Valley has the connections, experience and opportunities we require in a joint venture partnership."
About Pacific Valley, LLC
Pacific Valley specializes in early-stage development of utility-scale solar power plants in California. Their expert management team collectively brings more than 100 years of industry experience and a track record of success in solar project development, power plant siting and commercial real estate, having raised hundreds of millions of dollars in investment capital and consistently creating real value for their shareholders, investors and customers. Two Pacific Valley principles played a key role in the successful planning and execution of the early development for a $3 billion, 550MW solar project located in California, which ranks among the largest solar plants currently being developed. For more information, visit http://www.pacific-valley.com
About Cadmos Energias Renovables
Cadmos Energías Renovables, headquartered in Madrid, Spain, is dedicated to the entire value chain of photovoltaic energy, from manufacturing panels and developing project facilities to building and operating photovoltaic parks, while managing the associated electric business. In addition to its own projects, Cadmos also collaborates with international partners to achieve its primary objective of expanding the available supply of electrical energy from the most abundant source—the sun—at competitive prices. For more information, visit http://www.cadmos.es/en