Distributed Energy Systems Corp. of Wallingford, Conn., has entered into a joint venture with Morgan Stanley, a New York-based financial services firm, to develop and finance renewable energy projects.
According to the companies, the joint venture will encourage the development of renewable energy projects while offering competitive returns for investors. Primary applications include waste-to-energy, combined-heat-and-power, wind, solar, bio-digestion, fuel cell and other renewable technologies. The joint venture will offer full project life cycle services, including development, financing, engineering, procurement, construction, commissioning, operations and services.
‘Many of the customers we deal with see the merit in projects that help them save on the cost of energy while reducing their environmental footprint, but the cost of these projects often exceeds their capital funding limits,’ says Ambrose L. Schwallie, Distributed Energy's chief executive officer. ‘Now, in partnership with Morgan Stanley, we can offer a third-party ownership and operations model that creates a win-win for end users and investors alike.’