MP2 Capital, a developer, financier and operator of solar projects, has completed the first phase of a 1.8 MW solar photovoltaic project to power the Denver Public School (DPS) District.
The rooftop solar arrays for the first five of 16 schools have been completed, and the remaining projects are expected to be constructed by the end of the year. MP2 Capital has partnered with local players NamastÃ© Solar, a Colorado-based designer and installer, and Oak Leaf Energy Partners, a Denver-based developer, to help complete the projects.
As part of the innovative public-private financing structure, MP2 Capital assumed the project's financial and operational risks. DPS was able to secure renewable energy at a long-term rate and provide renewable energy credits to Xcel Energy. Through a power purchase agreement, DPS will procure the electricity generated from the system from MP2 Capital for a period of 20 years.
SOURCE: MP2 Capital