Solar Power Partners Inc. (SPP) says that several of its solar energy facilities in the Los Angeles area are in full commercial operation and generating electricity.
The solar energy facilities include a 238.68 kW system at the California Institute of Technology in Pasadena; a 601.02 kW system at BT's North American corporate headquarters in El Segundo; and Safeway Inc.'s Vons grocery stores in Monrovia (230.09 kW), Oxnard (187.53 kW), Corona (204.82 kW) and Murrieta (198.17 kW).
Each solar facility was financed and developed using a solar power purchase agreement. SPP, alone and/or through its subsidiaries, develops, operates and maintains the system for the length of the agreement, which is usually over 20 years.
Financing of the solar facilities was partially provided by Bank of America in the form of a tax-equity investment and Energy Investors Funds through its United States Power Fund III LP.
SOURCE: Solar Power Partners Inc.