today 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.
To date, four solar projects have been completed or are currently under construction in Southern California: an 878-kilowatt system for Castaic Union School District in Valencia, a 7.6-megawatt portfolio of systems for Chaffey Joint Union High School District in Ontario, a 1-megawatt system for Keppel Union School District in Pearblossom, and a 976-kilowatt system for the city of Palmdale.
“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.
Kwiker added, “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.”