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Community Energy Signs Power Purchase Agreement with Exelon for Largest Solar Project to Date in Pennsylvania

^{Published on 2011-05-12 14:20:36 - Market Wire}
 

RADNOR, Pa.--([ BUSINESS WIRE ])--Community Energy Solar, LLC (Community Energy) and Exelon Generation (NYSE: EXE),today announced the close of a 15-year agreement for the purchase of power and renewable energy credits from a 6 megawatt (MW) solar project that Community Energy is building in Lancaster County, PA. The agreement will support the construction of the largest solar energy facility in the state, consisting of approximately 25,000 solar panels installed on approximately 30 acres.

"The value of this long-term power purchase agreement with a utility of Exelona™s stature cana™t be overstated in bringing commercial finance to solar projects in the state"

aThis announcement brings critical momentum to solar development in Pennsylvania, much as our partnership with Exelon launched wind power here a decade ago,a said R. Brent Alderfer, president of Community Energy. aThe value of this long-term power purchase agreement with a utility of Exelona™s stature cana™t be overstated in bringing commercial finance to solar projects in the state,a he said. aThis is the first step in proving up the larger market for utility-scale solar in Pennsylvania. We look forward to this project and others like it as the solar market expands in the region.a

"Wea™re pleased to be leading the solar market in Pennsylvania and we look forward to our partnership with Community Energy Solar in producing more solar generation over the next decade,a said Kenneth W. Cornew, senior vice president of Exelon Corporation and President of Exelon Power Team. aThis agreement allows us to provide new clean energy to the market, which is a key goal of our business strategy, Exelon 2020: a Low Carbon Roadmap.a

The project will be located along Lancaster Pike south of the city of Lancaster, PA, a corridor which has also received commercial development proposals. Community Energy Solar worked closely with the Lancaster County farming community and East Drumore Township officials to design the solar project to support both clean energy production and agricultural land restoration, including selected cover vegetation, minimal use of concrete and decommissioning at the end of the 25 - 30 year project life.

The project will create approximately 75 jobs during the six-month construction period and is expected to generate approximately 7.5 million kilowatt hours (kWh) of electricity per year or enough power to meet the needs of approximately 1,000 homes. Generating the same amount of electricity using non-renewable sources would result in the release of 3,800 metric tons of carbon dioxide annually or the equivalent emissions from 676 passenger vehicles.

About Community Energy Solar

Community Energy Solar develops utility-scale solar projects nationally with offices in Pennsylvania and Colorado and since 2009 has steadily expanded its solar project development team and pipeline. With long-established roots in renewable energy starting in 1999, the Company has a proven track record of delivering renewable power generation ahead of the market on favorable terms to customers and utility partners. For more information, visit [ www.CommunityEnergyInc.com ].

About Exelon Generation

Exelon Corporation is one of the nationa™s largest electric utilities with more than $18 billion in annual revenues. The company has one of the industrya™s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and southeastern Pennsylvania and natural gas to approximately 490,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.

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