Thursday, December 10, 2009
Solar Panels for Pacifica and Daly City Schools
Solar Panel Installations to Reduce Energy Costs in California Schools
Clearwater, FL (PRWEB) December 8, 2009 -- The Churchill Companies, a financier of commercial real estate and renewable energy installations, announces the closing of its newest transaction for the Jefferson Unified High School District in locations throughout Daly City and Pacifica, California. Churchill provided the initial $10.8 million, or 90 percent, in construction financing for multiple roof and ground mount solar panel arrays on four high schools. This project has the capacity to generate a total of 1.64-megawatt hours DC (MW-h) effectively providing green energy on various buildings while reducing the school district's reliance on the grid, energy costs and its impact on the environment.
Churchill provided the construction financing for the initial development phase of the Jefferson Union High School District installation. The project will utilize conventional financing, equity and renewable energy tax credits as the exit strategy for the initial construction financing.
"This transaction marks the ninth school we have helped bring sustainable renewable energy to this year. We are seeing increasing interest in renewable energy installations and our construction lending for both renewable energy and affordable housing continues to do well," stated Churchill President and Chief Operating Officer Keith Gloeckl.
For more information about this installation or renewable energy financing, please contact Devin Sanderson, Vice President of The Churchill Companies at 727-461-2200.
About The Churchill Companies The Churchill Companies are a full-service mortgage-banking firm based in Clearwater, Florida. The company specializes in providing financing for commercial real estate and renewable energy installations.
Churchill Financial LLC is a member of Q10|Capital LLC and benefits from a national infrastructure enabling immediate access to real time financing data from across the country. In the past three years, Q10|Capital companies have produced over $16.5 billion in commercial finance transactions and currently services over $17 billion in commercial mortgage loans.