http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/emerging-solar-company-wins-20m-orange-county-power-sale.html

Emerging turnkey solar system developer PsomasFMG, which secured a $53m contract last year, has signed a contract for the long-term sale of power from a distributed solar system it has yet to install.

The US-based company, a joint venture between consulting engineering firm Psomas spin-out Psomas renewables and First Management Group, has penned a $20m power purchase agreement (PPA) with California’s Orange County.
At the centre of the deal is a 4MW solar project the company has yet to design, engineer and operate across seven sites in the US.
The project is projected to reduce energy costs at Orange County facilities by $5.3m over the next 20 years, the company said.
The PPA is expected to lock in stable electricity costs and reduce the county’s expenditures on energy. It is also anticipated to help stimulate the local economy by creating approximately 290 jobs.
Over the 20-year term of the agreement, the company estimates that the county could save as much as $5.3m relative to what it would spend buying electricity supplied by local power utility Southern California Edison.
‘Orange County’s power purchase agreement with PsomasFMG represents a great partnership and big step forward in the county’s solar power generation efforts,’ said Bill Campbell, chairman of the Orange County Board of Supervisors.