Project marks major corporate milestone – more than 9 MW of solar
systems developed and financed
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Perpetual
Energy Systems, LLC (Perpetual), a national power purchase agreement
(PPA) provider/financier of solar powered renewable energy systems,
today announced the completion of a 1.5 MW solar energy project in the Jefferson
Union High School District (the District). The project includes
solar arrays at four District high schools - Oceana High School, Terra
Nova High School, Westmoor High School and Jefferson High School, all
located just south of San Francisco, in the cities of Daly City, Colma,
Brisbane and Pacifica, California.
“This project will not only help the District to reduce its energy dependency on the grid and provide affordable energy costs but it will also create an opportunity to educate students about the benefits of renewable solar energy.”
The project, which includes more than 8,500 solar panels, promotes each
school’s energy independence and will substantially reduce costs. During
its first full year of operation, the system is estimated to produce
2,300,000 kilowatt hours of clean energy, equal to removing
approximately 270 cars from the road annually.
“Enabling four high schools to ‘go solar’ is very exciting for the
company,” said Joseph Rodriguez, president and CEO of Perpetual. “This
project will not only help the District to reduce its energy dependency
on the grid and provide affordable energy costs but it will also create
an opportunity to educate students about the benefits of renewable solar
energy.”
Steven Fuentes, Associate Superintendent of Business Services, states,
“In these difficult financial times for public education in California,
our district is very excited to begin working with Perpetual. Perpetual
will allow us to implement a program that will bring in much needed
revenue while providing services to our district we would otherwise not
have staff to accomplish.”
The project costs required no upfront capital outlay from the District
and were funded by Perpetual through the use of project financing,
sponsor equity and federal renewable energy tax credits. The
environmental attributes of the system, including the renewable energy
certificates (RECs) generated by the system, will be owned by Perpetual.
The District will purchase the renewable energy generated by the system
from Perpetual pursuant to a power purchase agreement at a fixed
discount to what the District would have had to pay the utility company
for the same energy.
With the activation of the District project, Perpetual has successfully
completed the financing and development of more than 9 MW of solar
systems, all of which it owns and operates, powering commercial,
educational, municipal and industrial facilities.
About Perpetual Energy Systems
Perpetual Energy Systems is an independent power producer of renewable
energy projects, providing clean energy power to educational,
industrial, commercial and municipal enterprises and utility companies.
By utilizing the Power Purchase Agreement (PPA), Perpetual is able to
provide such host clients with on-site clean, renewable energy resources
with no capital (zero) outlay required from host clients. Perpetual
Energy Systems combines renewable energy tax incentives with
conventional financing and sponsor equity to achieve the design,
construction, installation, operations and maintenance of renewable
energy systems. For more information, please contact Michael Streams at
(818) 668-2834 or michael.streams@goperpetual.com
or visit www.goperpetual.com.
Posted by Steve Sinai
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