in News Departments > New & Noteworthy
print the content item

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.



Hybrid Energy Innovations 2015

Surrette_id1409
Latest Top Stories

Solar Helps Sunrise Powerlink Reach 1 GW Transmission Milestone

The $1.9 billion transmission infrastructure project is key to the success of the solar and wind power projects in California's Imperial Valley.


New York Raises Solar Net-Metering Caps As Part Of An Energy Initiative

Gov. Andrew Cuomo announced five significant steps to help improve New York's grid, develop more localized access to energy and encourage new business models.


Co-op Solar Procurement: Exciting Opportunity Or Grounds For Turf War?

Despite promising growth in the utility sector, further procurement of solar on utility co-op systems could be stalled.


Colorado PUC Rejects Xcel Energy's Solar*Connect Subscription Program

Citing a lack of demand and concerns over pricing, Colorado regulators wasted little time in dismissing the utility's community solar proposal.


NextEra To Purchase Majority Stake In Hawaiian Electric In $4.3 Billion Deal

If approved by shareholders and regulators, the merger of NextEra and Hawaiian Electric Industries will produce one of North America's largest renewable energy companies.

Maynards_id1471
Hybrid Energy Innovations 2015