Photon Finance Selected For Naval Solar Power Contract

Photon Finance LLC has been selected as one of three companies to develop distributed solar power systems on more than 11 naval facilities in Hawaii. The $500 million multiple award contract was competitively procured; 13 bids were received in response to a Naval Facilities Engineering Command Pacific request for proposals, Photon Finance says.

Under the award contract, Photon Finance will compete with Island Pacific Energy LLC and Pacific Energy Solutions LLC for task orders to design, construct, own, operate and maintain solar power systems on Navy rooftops, parking structures and vacant parcels of land.

The Navy will purchase the solar-generated electricity under 20-year power purchase agreements. These projects are part of the Navy's goal to achieve 50% total energy consumption from alternative sources by 2020.

Projects are expected to be issued within the next 12 months and completed by August 2016.


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