PsomasFMG and Constellation to Develop up to 50 Megawatts of Solar Generation for California Schools and Municipalities
09 July 2014 - 2:01AM
Business Wire
First 10 megawatts currently under
construction; power purchase agreements enable customers to install
solar generation with no upfront capital
PsomasFMG and Constellation today announced an agreement to
develop up to 50 megawatts of solar distributed generation projects
for California-area schools and municipalities through the end of
2015. The agreement calls for Constellation to provide financing to
build, own and operate the solar power systems and sell the
electricity generated by the systems to customers through power
purchase agreements.
To date, four solar projects have been completed or are
currently under construction in Southern California: an
878-kilowatt system for Castaic Union School District in Valencia,
a 7.6-megawatt portfolio of systems for Chaffey Joint Union High
School District in Ontario, a 1-megawatt system for Keppel Union
School District in Pearblossom, and a 976-kilowatt system for the
city of Palmdale.
“Our solar project with PsomasFMG and Constellation is the
proverbial win-win for everyone involved,” said Palmdale Mayor Jim
Ledford. “It is enabling Palmdale to provide clean energy and meet
our greenhouse gas reduction goals, while saving money for our
residents.”
“During a time when many schools and public agencies are dealing
with major budget constraints, on-site solar generation through a
power purchase agreement is a way to reduce electricity costs,”
said Lou Kwiker, chief executive officer of PsomasFMG.
Kwiker added, “Constellation’s 180 megawatts of distributed
generation solar projects currently under contract, as well as its
financing capabilities and energy services experience, make
Constellation uniquely qualified to meet our needs and the needs of
our customers. Under this agreement, Constellation and PsomasFMG
will be able to offer unparalleled development, installation,
financing and asset management services, enabling customers to
maximize the savings and value from solar energy systems.”
“With more than 40 megawatts of project experience and a strong
reputation with its customers, PsomasFMG is a natural fit as we
expand our solar energy capabilities for businesses and public
agencies in California,” said Brendon Quinlivan, director of solar
sales for Constellation. “We look forward to working with PsomasFMG
to help customers meet their environmental goals and better manage
their energy costs.”
Quinlivan added, “As a national energy supplier, Constellation
is committed to providing customers opportunities for the adoption
of distributed generation in parallel with their larger energy
purchasing strategies. Structuring solar projects as power purchase
agreements requires no upfront capital from customers, and provides
them with fixed power costs that are often less than projected
market rates.”
Constellation currently owns more than 180 megawatts of solar
installations that have been completed or are under construction
for commercial, industrial and government customers throughout the
United States. Of that total, the company has installed 90
megawatts of solar installations for school and municipal locations
in California and Arizona.
California schools and municipalities interested in on-site
solar through a power purchase agreement with Constellation may
contact PsomasFMG at pmikos@psomasfmg.com or (714)465-4904.
About PsomasFMG
Based in Huntington Beach, CA, PsomasFMG provides turnkey solar
solutions to its clients by utilizing a combination of engineering
expertise, private investor funding, utilizing federal and state
subsidies. In 2010, PsomasFMG completed the largest operational
school solar system in Southern California, a 9.6 MW project across
10 schools in the Antelope Valley Union High School District.
Utilizing Power Purchase Agreements and requiring no capital outlay
from its host clients, PsomasFMG has also completed over 26 MWs of
solar projects for offtakers such as County of Orange and several
multi-campus school districts in Los Angeles County such as William
S. Hart School District, Wilsona School District, Palmdale School
District, and Hughes-Elizabeth Lake School District. PsomasFMG has
developed several other solar projects currently under various
stages of design and construction for the City of Palmdale, Castaic
Union School District, Keppel Union School District, Chaffey Joint
Union High School District, a 3MW project with the City of
Lancaster under a PPA with Southern California Edison and a
design-build project for the Redondo Beach Unified School District.
PsomasFMG is dedicated to bringing value to California school and
communities. For more information about PsomasFMG visit
www.PsomasFMG.com
About Constellation
The Constellation family of retail electricity and natural gas
suppliers (www.constellation.com), are subsidiaries of Exelon
Corp., and are leading competitive retail suppliers of power,
natural gas and energy products and services for homes and
businesses across the continental United
States. Constellation’s retail businesses serve more than
100,000 business and public sector customers, including more than
two-thirds of the Fortune 100, and nearly one million residential
customers.
Exelon Corporation (NYSE: EXC) is the nation’s leading
competitive energy provider, with 2013 revenues of approximately
$24.9 billion. Headquartered in Chicago, Exelon does business in 48
states, the District of Columbia and Canada. Exelon is one of the
largest competitive U.S. power generators, with more than 35,000
megawatts of owned capacity comprising one of the nation’s cleanest
and lowest-cost power generation fleets. The company’s
Constellation business unit provides energy products and services
to approximately 100,000 business and public sector customers and
approximately 1 million residential customers. Exelon’s utilities
deliver electricity and natural gas to more than 7.8 million
customers in central Maryland (BGE), northern Illinois (ComEd) and
southeastern Pennsylvania (PECO). Follow Exelon on Twitter
@Exelon.
PsomasFMGPaul Mikos, 714-408-2982orConstellationKelly Biemer,
410-470-9700kelly.biemer@constellation.com
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