Tioga Completes 17-System Solar Initiative In Calif.
| in News Departments > Projects & Contracts |
| California's Hemet Unified School District (USD), Tioga Energy, Johnson Controls, De Lage Landen (DLL) and Wells Fargo & Co. have completed 17 solar PV systems at area elementary, middle and high schools in the district. The 4.4 MW of solar electric canopies now provide shade for approximately 1,400 parking spaces and nine playgrounds across the district. Tioga Energy, a provider of renewable energy services to commercial, government and nonprofit institutions, financed each of the 17 systems through its SurePath solar power purchase agreements (PPAs). Tioga developed and will operate and maintain the systems, selling the generated electricity to Hemet USD over 20 years at rates lower than the local utility. The agreement will save the district approximately $300,000 in utility costs annually, according to Tioga. These systems are the first to be developed under a master financing agreement between Tioga Energy and DLL, a provider of asset-based financing products. Additionally, Wells Fargo & Co. participated in the projects as a construction lender and tax equity investor alongside DLL's tax equity investment to further broaden the scope of the Tioga-DLL financing facility. Johnson Controls was responsible for engineering, procurement and construction. |
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