PsomasFMG and Constellation to Develop up to 50 Megawatts of Solar Generation for California Schools and Municipalities –
SAN FRANCISCO, CALIFORNIA–( Solar Thermal Magazine )–PsomasFMG and Constellation have announced an agreement to develop up to 50 megawatts of solar distributed generation projects for California-area schools and municipalities through the end of 2015. The agreement calls for Constellation to provide financing to build, own and operate the solar power systems and sell the electricity generated by the systems to customers through power purchase agreements.
“Our solar project with PsomasFMG and Constellation is the proverbial win-win for everyone involved,” said Palmdale Mayor Jim Ledford.
It is enabling Palmdale to provide clean energy and meet our greenhouse gas reduction goals, while saving money for our residents.
“During a time when many schools and public agencies are dealing with major budget constraints, on-site solar generation through a power purchase agreement is a way to reduce electricity costs,” said Lou Kwiker, chief executive officer of PsomasFMG.
Constellation’s 180 megawatts of distributed generation solar projects currently under contract, as well as its financing capabilities and energy services experience, make Constellation uniquely qualified to meet our needs and the needs of our customers. Under this agreement, Constellation and PsomasFMG will be able to offer unparalleled development, installation, financing and asset management services, enabling customers to maximize the savings and value from solar energy systems.
“With more than 40 megawatts of project experience and a strong reputation with its customers, PsomasFMG is a natural fit as we expand our solar energy capabilities for businesses and public agencies in California,” said Brendon Quinlivan, director of solar sales for Constellation. “We look forward to working with PsomasFMG to help customers meet their environmental goals and better manage their energy costs.”
As a national energy supplier, Constellation is committed to providing customers opportunities for the adoption of distributed generation in parallel with their larger energy purchasing strategies. Structuring solar projects as power purchase agreements requires no upfront capital from customers, and provides them with fixed power costs that are often less than projected market rates.
Constellation currently owns more than 180 megawatts of solar installations that have been completed or are under construction for commercial, industrial and government customers throughout the United States. Of that total, the company has installed 90 megawatts of solar installations for school and municipal locations in California and Arizona.
California schools and municipalities interested in on-site solar through a power purchase agreement with Constellation may contact PsomasFMG at [email protected] or (714)465-4904.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.