July 22 (Bloomberg) -- SunEdison Inc., the best-performing solar company this year, agreed to provide electricity to Southern Nevada Water Authority under a 20-year power-purchase contract.
As part of the deal, SunEdison will build and operate a 14-megawatt solar plant in Clark County, Nevada, the St. Peters, Missouri-based company said today in a statement. Terms weren’t disclosed.
When the solar farm is complete next year, Southern Nevada Water will get about 18 percent of its electricity from renewable sources, according to the statement. The non-profit agency provides water to Las Vegas and other communities in the region, and increasing its use of solar power through this contract will reduce its consumption of water.
SunEdison has climbed 71 percent this year, the most in the 17-member Bloomberg Intelligence Global Large Solar Energy Index. It was unchanged at $22.38 at the close in New York.
To contact the reporter on this story: Justin Doom in New York at email@example.com
To contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org Will Wade, Robin Saponar