Main Street Power Co. Inc., a national solar financier and power purchase agreement provider, and its partner MS Solar Solutions Corp. (MSSS), a wholly owned subsidiary of Morgan Stanley, have secured their second New Market Tax Credit (NMTC) solar financing program and began construction on 2.9 MW of distributed generation solar photovoltaic systems.
The companies financed the projects using a combination of federal NMTCs, the U.S. Treasury's Section 1603 grant, and local utility incentives. Financing was facilitated in part by Pacific Gas & Electric Co. and San Diego Gas & Electric.
Construction partners on the projects include Milender White Construction Co., Taber Construction Inc., Baja Construction Co. Inc. Technology partners include Astronergy, Enphase Energy, PV Powered, Sunlink and S5!.
The 35 systems will be operational by the end of this year and are located throughout the state of California: the San Diego Unified Schools, the University of California at Davis, and Contra Costa County. Main Street Power is partnering with local solar installation firms and will own and operate the installed systems.