Solar Power Partners introduces California Solar Energy Fund for commercial building owners
Solar Power Partners enables commercial building owners to access green energy without investing their own capital
Source: Solar Power Partners press release / Jan 9, 2007
http://www.solarpowerpartners.com/pressreleases.html
San Francisco, Calif. /January 9, 2007 — Solar Power Partners, Inc. (SPP), a developer, owner and operator (DOO) of a distributed network of commercial solar energy facilities (SEF), today formally initiated its Power Purchase Agreement (PPA) program for mid-size commercial buildings in California. This announcement coincides with the establishment of SPP LLC1, a renewable energy fund for investing in California commercial solar energy facilities of up to 100KW/AC.
Up-front capital costs for commercial solar energy facilities have been the primary barrier for building owners to purchase or even lease solar systems. SPP’s Power Purchase Agreement allows building owners to access solar energy without having to invest their own capital. Moreover, the PPA ensures energy rates remain lower than the local utility and insulate the user from volatile energy prices over the term of the agreement. The maintenance and operating costs are covered while building owners pay only for the electricity that is consumed.
“The PPA model is the most effective energy financing method and now SPP is working in partnership with small and independent commercial businesses making solar most affordable”, said Craig M. Hunt, Co-founder and CEO of SPP. “Our competitive advantages and strong value proposition to all stakeholders ensures business stability and staying power”.
SPP provides an innovative turn-key performance based service (PBS) that bundles the development of SEF, financing by PPA and on-going operations tailored to meet building owner’s specific needs. The PBS is in-line with the newly announced California Solar Initiative program (CSI), a performance based incentive (PBI), as overseen by the California Public Utilities Commission (CPUC). “Our interests are aligned”, said Alexander v. Welczeck, Co-founder and COO. “Same as the building owner and CPUC, SPP’s foremost interest is developing the best quality solar energy facility that provides the highest productivity KW/H with the longest life”. In partnership, SPP works with the leading solar and building industry specialists to develop and operate commercial photovoltaic (PV) solar energy facilities. SPP is the general partner and manages the new SPP LLC1 Fund for California Commercial Solar Energy.
About Solar Power Partners
Solar Power Partners, Inc., is a Developer, Owner and Operator (DOO) of a distributed network of commercial Solar Energy Facilities (SEF) that is remotely managed. In partnership with building owners, SPP provides an innovative turn-key performance based service (PBS) that bundles the development of the solar energy facility (SEF), financing by a Power Purchase Agreement (PPA) and on-going operations tailored to meet buildings specific needs. Utilizing best-of-breed photovoltaic (PV) technology, SPP generates clean renewable energy that is sold to the user below current retail utility rates while insulating building owners from volatile future energy prices. For more information on Solar Power Partners, please contact us at: 1-415-389-8981 or visit us on the Web at http://www.solarpowerpartners.com