Panasonic, Coronal Buy Solar Projects From Macquarie

Panasonic Corp. (6752) and Coronal Management LLC bought 16.2 megawatts of California solar projects from Macquarie Capital.

The nine projects in Tulare and Kings Counties in Central California will provide enough power for about 14,500 homes served by Edison International (EIX) once completed in 2014, Panasonic’s Newark, New Jersey-based unit said today in a statement.

The projects, which will be built by ImMODO Energy Services Corp. and Panasonic Eco Solutions, bring Panasonic and Coronal’s joint development to more than 30 megawatts during the past two years. The two companies expect to have more than 100 megawatts completed or in development by the end of 2014.

Jim Reilly, a spokesman for Panasonic, didn’t immediately respond to an e-mail or call for comment. Terms of the deal weren’t disclosed.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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