in News Departments > New & Noteworthy
print the content item

comments: 0

Borrego Solar Systems Inc., a designer, installer and financier of grid-tied solar photovoltaic systems, has acquired a diverse portfolio of solar projects totaling more than 8 MW located throughout five areas within California.

The portfolio includes two utility projects totaling 3 MW under Southern California Edison's (SCE) California Renewable Energy Small Tariff (CREST) program. The remaining projects are structured with power purchase agreements with various school districts and include bundled-solar and energy-efficiency solutions.

Borrego Solar acquired the projects and completed their development, providing all the necessary project financing, engineering, procurement and construction of the solar facilities.

"Many solar projects stall due to a need for up-front development capital or long-term project financing," explains Mike Hall, CEO of Borrego Solar. "Our solar financing solutions help drive projects forward as we absorb the up-front costs and provide long-term financing to projects that wouldn't otherwise get done."

The two utility projects are Borrego Solar's first projects under SCE's feed-in tariff program, CREST, which was established to provide standardized fixed price energy payments to qualifying renewable energy generators 1.5 MW or smaller. Qualifying projects can sell the renewable energy they generate at a set price to SCE for up to 20 years.



IronRidge_id1414

Surrette_id1409
Latest Top Stories

SolarCity Strikes An East-West Pose In Its New Commercial Mounting System

The first major new product release from SolarCity's Zep Solar business unit since last year's merger reveals new opportunities in the commercial solar space.


Central America's Heart Set On Solar With New Government Tenders

Big deals in El Salvador and Honduras point toward a surge in photovoltaic capacity in the region.


Con Edison To Meet Overload With Storage And Demand Management

Rather than dropping $1 billion on infrastructure to meet overload forecasts, the venerable electric utility is proposing a novel package of customer-side load management programs that could serve as a model for other energy providers.


U.S. And China Account For Over Half The World's PV Pipeline

While the usual suspects continue building photovoltaic projects at a breakneck pace, two new players are emerging with impressive capacity growth.


Buoyed By Business Deals, Solar Dominates New U.S. Cleantech Jobs

A hot solar sector helped double the number of new clean energy and transportation jobs in the second quarter of the year compared with the first.

Lufft_id1410
CanSolIndus_id1429
S&C Electric_id1352
SilcoTek
Future Energy_id1428
PVcobra_id1394
WIP_id1320