The partnership refers that each company will own a 50% interest of the solar facilities including the 150MW Copper Mountain Solar 2 farm near Las Vegas and the 150MW Mesquite Solar 1 plant near Phoenix.

Sempra renewables vice president Kevin C. Sagara said that the company is pleased to partner with ConEdison Development in the ownership of both these plants.

"This transaction enables us to improve our financial returns, deconsolidate debt and reinvest the proceeds to more rapidly grow our business," Sagara added.

The 150MW Mesquite Solar 1 plant is currently generating enough power for 56,000 households, while the Copper Mountain Solar 2 plant, completed phase I, generates 92MW of output.

The phase II is expected to be up and ready to run in 2015.

ConEdison vice president Mark Noyes said the company is delighted to be working together with Sempra U.S. Gas & Power, a company that is highly regarded as one of America’s foremost solar developers.

"These two projects are both first-rate facilities with solid, long-term agreements," Noyes added.