PRLog (Press Release)– Jun 15, 2011– The solar arrays will meet 100% of the college's daytime electrical demand as well as provide educational benefit for the students as the installation, monitoring and maintenance of the system become part of the college's curriculum.
Designed and installed by Rosendin Electric, the project has an estimated cost of over $25,000,000 but will produce all of the daytime electricity needed by AWC and could mean $40,000,000 in cost savings over the thirty year term of the power purchase agreement. "We are building a landmark project with a great team of partners utilizing local labor while connecting AWC students to the future of renewable energy," said Duncan Frederick, Director of Solar Operations at Rosendin Electric.
"This project is huge for our community, and also for the future of renewable energy education around the country. And, as colleges face increased enrollment and decreased funding, any steps we take towards energy independence means more resources for classes, for faculty, and ultimately benefits the students," stated AWC President Dr. Glenn Mayle.
This innovative solar project is the culmination of two years of efforts by the college, Arizona Public Service (APS) and developer, PPA Partners. Vireo Energy found an investment partner and arranged for financing for the project through Main Street Power and after nearly six months of negotiation, underwriting and technology and engineering review, the project received funding. The cadillac system will be owned and operated in a partnership between Main Street Power and MS Solar Solutions, a wholly owned subsidiary of Morgan Stanley. "Our collaborative work with the college, our partners and the local utility should serve as an example for other institutions on how to get renewable energy projects financed and built across the country," stated Jonathan Postal of Main Street Power.
The project is comprised of five one-megawatt sites across the campus. The technologies include Concentrated Photo Voltaic (CPV) from manufacturers, SolFocus and GreenVolts; Thin Film panels from Sharp Solar; rc helicopter and car market place Mono Crystalline panels from SolarWorld and Poly Crystalline panels from Suntech.
The installation also includes demonstration systems of each technology for corporate and government comparisons, and access by students and researchers. New curriculum offerings at the college will range from certificates to Renewable Energy degree programs, and partnerships are in the works with universities for continuing Bachelor's and Master's degrees. The college's workforce training is expected to lead to thousands of clean tech jobs in the Southwest in the coming years, considering multiple planned solar projects in Arizona and surrounding states. Renewable energy manufacturers tend to build new plants within 60 miles of major education and research centers, making this project a benchmark opportunity for future development and growth.
Note to Editor: Vireo Energy Financial 1086274749 Services is a Malibu, California based financial services consultant matching project developers with investors, financing sources and tax equity partners. The company works on all types of renewable energy chrysler projects across the globe, including distributed generation solar projects, bio-mass projects, fuel cell and battery technologies and waste to energy projects. Financing options offered include lease finance, power purchase agreements and other innovative financing solutions from sources worldwide.
Press Contacts: Larry Thrall Clifford Cheng Vireo Energy Financial Services 31569 Sea Level Drive Malibu, CA 90 buick 265 (310) 314-5126 larry.thrall@vireoenergy.com clifford.cheng@vireoener gy.com
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