Dec. 13, 2012: School District to Save $300,000 Annually with Solar Energy
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 leading 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 the Hemet Unified School District over 20 years at rates lower than the local utility.
These systems are the first to be developed under a master financing agreement between Tioga Energy and De Lage Landen (DLL), a global provider of asset-based financing products and supporter of sustainable clean technology. 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 delivered all engineering, procurement, and construction (EPC) solutions for the project.
“Tioga Energy’s expertise and unswerving dedication were critical to making this project possible,” said Vince Christakos, assistant superintendent, business services, for the Hemet Unified School District. “From securing the very last of the best available incentives to providing an on-site presence at every installation site, the Tioga team worked hard to ensure our needs were being met.”
“The Hemet Unified School District does an excellent job with monitoring its energy consumption, and its vision for further managing costs with solar was clear from the beginning,” said Paul Detering, CEO of Tioga Energy. “Because of the district’s dedication, it is able to focus school resources on the ultimate prize: quality student education.”
For more information on Tioga Energy’s SurePath Solar power purchase agreement, go to www.tiogaenergy.com/annotated-ppa-index.php.
Publication date: 12/10/2012