North Coast Solar Stocks

October 7, 2009

Solar Power, Inc. Helps Ventura County Turn Vision for Solar Into Reality

Filed under: SOPW — Tags: , , , , — Jason @ 6:00 am

Solar Power, Inc. to Install Solar Systems at Two County Locations, Ventura County Advances Sustainability Initiative

Wednesday October 7, 2009, 6:00 am EDT

ROSEVILLE, Calif.–(BUSINESS WIRE)–Solar Power, Inc. (“SPI”) (SOPW) announced today that as a result of a unanimous vote by the County of Ventura Board of Supervisors, it has been selected to design and install photovoltaic (“PV”) solar systems on two of the County’s buildings. SPI will install a 328 kW system on the Fleet Services and Public Works buildings at the Saticoy Operations Yard and a 169 kW system on the County’s Vanguard building, located in Oxnard. This 497 kilowatt photovoltaic solar power project marks Ventura County’s entry into the solar energy field.

The project represents the culmination of a long-term effort on the part of the Ventura County government. Officials within the Ventura County government have been working to bring solar energy to the County’s facilities since January 2008. At the project’s inception, officials believed a PV solar system would serve as a starting point in the County’s transition to alternate energy solutions and a physical expression of its commitment to fiscal and social accountability. “We have always been interested in renewable energy as a viable economic strategy,” said Steve Morgan, Chief Deputy Director GSA for Ventura County. “When we began to pursue LEED certification for some of our newer facilities, we became more determined than ever to invest in a solar system that would make economic and environmental sense. This project helps us achieve that goal.”

A team of County personnel was formed in 2008 to research opportunities for a solar energy system. Rather than seeking dedicated funding for a solar project, the team identified a structured financing instrument called a Power Purchase Agreement (PPA) that would allow the County to host the system and purchase the power it produces at a rate that would offer energy savings. However, the initial phase of the project happened to coincide with the largest capital crisis in recent history, and funding for the project dried up. SPI was able to facilitate the project by introducing Solar Power Partners, Inc. (SPP) of Mill Valley, CA to Ventura County. SPP has arranged for financing of the project and will own and operate the solar arrays over the term of a PPA. Solar Power Partners is one of the most successful commercial solar PPA providers in the country.

The two systems that resulted from the County’s efforts will be a mix of conventional roof-mount solar and SPI’s proprietary SkyMountTM system, which enables minimal roof penetrations, optimizes solar module performance, and reduces installation time requirements. SkyMount will be used for more than half of the overall system installations. The installations will incorporate 2,448 of SPI’s 205-watt modules, recently ranked by the California Energy Commission as the industry’s top performing solar modules in their category.

“It has been especially rewarding to work with the Ventura County officials to develop a solution that will help them attain their energy and cost saving goals. Their unwillingness to abandon this project at a time when forces outside of their control seemed insurmountable is inspirational,” said Bradley Ferrell, President of Solar Power, Inc.’s commercial sales division. “Like many local governments across the state of California, Ventura County has initiated a program to adopt solar at many of its operations. We hope to work with County officials on future projects as they continue their migration to solar in other areas of the County’s operations as a cost-saving alternative to traditional utility-sourced electricity,” Mr. Ferrell concluded.

About Solar Power Partners (SPP)

Solar Power Partners, Inc. (SPP) is America’s premier independent solar power producer and is leading the way in streamlining the adoption of clean solar energy by businesses, institutions, municipalities, and utilities throughout the United States. Combining the financing strength of solar Power Purchase Agreements (PPAs) with the expertise and best practices of top solar and building industry professionals, SPP gives building owners a clear path to achieving energy independence with lower electrical costs at predictable rates and without the risks or costs of owning and maintaining solar facilities. For more information visit http://www.solarpowerpartners.com.

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