Recurrent Energy, a distributed power company and a provider of solar energy, has marked its entry into the European market with the announcement of 4.8 MW of solar projects in Spain.
The projects are the result of an arrangement with ProLogis, a global provider of distribution facilities. Under the terms of the arrangement between the companies, Recurrent Energy will lease rooftops from ProLogis as solar project sites. Recurrent Energy will finance, own and operate the solar power systems, which will be located on eight of ProLogis' distribution centers in Barcelona and Madrid.
The systems will be grid-connected, feeding all power to the local utility through a feed-in tariff, which the Spanish government awarded to Recurrent Energy in July. ProLogis will also provide construction management services.
"This project is a strong example of the value of rooftop-focused incentives provided by the Spanish government," says Karl Knight, managing director of international development at Recurrent Energy." By utilizing existing rooftops in the ProLogis portfolio, we are able to deliver a large amount of solar energy right where it's needed most, with almost no impact on the environment."
The projects are scheduled to begin next month and are earmarked for completion by mid-2010.
SOURCE: Recurrent Energy