Fotowatio has agreed to purchase the core US solar power assets - including the largest US solar photovoltaic installation, at Nellis Air Force base - of San Francisco-based MMA Renewable Ventures.
Upon completion of the sale, Fotowatio's US business unit, Fotowatio Renewable Ventures, will be one of the largest solar development companies in the United States as measured by megawatts in operation. Fotowatio will own 35 megawatts of solar projects in operation and more than 400 megawatts in development in the United States, and will gain one of the country's most experienced solar development and operations teams.
In addition to the 14-megawatt project at Nellis Air Force base in Nevada, the US-wide portfolio will include the nation's most visible solar array - at Denver International Airport - the world's largest thin film solar installation using CIGS technology - in Arizona - solar panels on the roofs of Colorado parking garages and solar arrays that power a California rice farm.
"This acquisition will significantly expand Fotowatio's portfolio, allowing us to meet our aggressive growth targets earlier than anticipated," said Rafael Benjumea, CEO of Fotowatio. "With the addition of MMA's assets and talented development team, we will be poised to expand in fast-growing markets in the United States, Spain and Italy."
Fotowatio has invested more than US$880 million (700 million euros) in solar projects since 2006 and plans to invest up to US$3.2 billion (2.5 billion euros) by 2012 in Spain, Italy and the United States.
Following completion of the acquisition of MMA Renewable Ventures, Fotowatio's global portfolio will include more than 130 megawatts of operating solar projects in the United States and Spain and more than 1,000 megawatts under development across the United States, Spain and Italy.
With no fuel cost or emissions, Fotowatio's expanded portfolio will produce clean energy and avoid more than two million tons a year in greenhouse gas emissions compared to conventional fossil fuel technology.
"Fotowatio is a company of the highest quality and together with our team we are now poised to dramatically grow our US solar portfolio," said Matthew Cheney, Chief Executive Officer of MMA Renewable Ventures.
Fotowatio's US business unit will focus exclusively on the development of commercial- and utility-scale solar projects throughout the United States. As an independent solar power producer, Fotowatio Renewable Ventures will develop, own and operate solar power plants and provide clean electricity to its customers under long-term contracts.
"This acquisition will make Fotowatio one of the largest solar companies in the rapidly growing US market, underscoring the company's strong leadership and business development skills," said Inigo Olaguibel, a member of Fotowatio's Board of Directors.
Fotowatio's purchase of MMA Renewable Ventures' solar platform is its third in the past seven months. In January 2009, Fotowatio acquired a 6.3 MW solar project in Spain from Solaria. In September 2008, Fotowatio acquired from Corporacion Gestamp four solar photovoltaic power plants producing 32 megawatts in Spain.
Fotowatio's shareholders include Qualitas Venture Capital (33.5%), GE (NYSE:GE - News) unit GE Energy Financial Services (32%), Grupo Corporativo Landon (17.5%) and the management team (17%).
Source - Solardaily
Showing posts with label Clean Electricity. Show all posts
Showing posts with label Clean Electricity. Show all posts
Tuesday, 3 March 2009
Wednesday, 20 August 2008
2MW Solar Array Dedicated At Denver International Airport
A two megawatt (MW) solar energy system has been dedicated at Denver International Airport (DIA).
The solar photovoltaic system, spanning seven and a half acres at the airport's entrance, will generate over three million kilowatt hours (kWh) of clean electricity annually, demonstrating Denver's commitment to environmental sustainability by reducing carbon emissions into the atmosphere by more than 6.3 million pounds each year.
Celebrating the system's dedication was Denver Mayor John Hickenlooper, together with the following executives and dignitaries: DIA Aviation Manager Kim Day; Dick Kelly, chairman, president and CEO of Xcel Energy; MMA Renewable Ventures CEO Matt Cheney; Frank Smith, CEO, WorldWater and Solar Technologies Corp.; and Ron Kenedi, vice president of Sharp Solar Energy Solutions Group.
MMA Renewable Ventures, a subsidiary of Municipal Mortgage and Equity, LLC "MuniMae" which financed, owns and operates the two megawatt system, joined with WorldWater and Denver International Airport to develop an innovative public-private partnership, leveraging tax credits and incentives to finance this landmark solar power system.
This partnership enabled the City of Denver and Denver International Airport to deploy this solar array under a long-term contract or Power Purchase Agreement (PPA). Designed and installed by WorldWater, using more than 9,200 Sharp solar panels, the new ground-mounted photovoltaic solar arrays employ a single-axis tracking system that follows the sun during the day for greater efficiency and energy production.
"This installation at Denver International Airport fits with our Greenprint Denver action agenda for sustainability and our pledge to do all that we can to reduce our carbon footprint," said Mayor John Hickenlooper. "We are proud to have such a large and prominently placed solar power system at DIA. This installation is both a symbol and a practical example of the City's commitment to renewable energy."
Added Kim Day, aviation manager for Denver International Airport, "DIA has a long-standing commitment to sustainable operations and environmental protection. This project makes a visible environmental statement to the millions of passengers that travel through our airport."
Frank Smith, CEO of WorldWater commented, "We are delighted that such a major metropolitan airport as Denver International has embarked on a solar energy system that is as impressive in scope as this two megawatt installation, which is the equivalent in size to seven football fields. In addition, our expertise in designing and installing commercial-scale solar systems enabled us to address the complex power needs of a major transportation hub like Denver International."
"By securing power through a power purchase agreement rather than major capital investment, DIA will benefit from a renewable energy system that is cost-effective from its very first day of operation, and for years to come," said Matt Cheney, CEO of MMA Renewable Ventures.
"Our collaborative effort serves as an example of how successful public-private partnerships can help municipal facilities make the most of tax credits and other incentives available for solar energy."
Ron Kenedi, vice president of Sharp Solar Energy Solutions Group, noted, "As a leading global solar provider, Sharp is proud to be part of this tremendous effort to help Denver achieve its ambitious sustainability goals. This solar PV system will significantly reduce greenhouse gas emissions, electricity costs, and grid constraints -- while helping to improve Denver's air quality and the region's overall environment."
"This project is right in line with the clean energy future we envision at Xcel Energy," said Dick Kelly, chairman, president and CEO of Xcel Energy. "We were pleased to play a role in helping Denver and Colorado meet the ambitious goals its leaders have set with the Renewable Energy Standard and Greenprint Denver."
The project is part of the Xcel Energy Solar*Rewards program and will receive a rebate to offset the upfront construction costs. Xcel Energy will purchase the renewable energy credits from the clean electricity produced in support of Colorado's Renewable Energy Standard, which requires large utilities to generate 20 percent of their power from renewable energy sources by 2020.
One of three U.S. airports to be accepted into the Environmental Protection Agency's National Performance Track Program, DIA's solar project illustrates how sustainable development can work as an integral operating principle -- while the airport maintains a successful, profitable business, breaking records for passenger traffic and earning high customer satisfaction ratings.
The array is one of the largest solar installations at any public airport in the U.S.
Operated by the City and County of Denver, DIA is the fifth busiest international airport in the United States, serving nearly 50 million passengers annually. With the City of Denver, Xcel Energy has developed an educational display in DIA's Jeppesen Terminal to explain the benefits of solar energy.
Source - Solardaily
The solar photovoltaic system, spanning seven and a half acres at the airport's entrance, will generate over three million kilowatt hours (kWh) of clean electricity annually, demonstrating Denver's commitment to environmental sustainability by reducing carbon emissions into the atmosphere by more than 6.3 million pounds each year.
Celebrating the system's dedication was Denver Mayor John Hickenlooper, together with the following executives and dignitaries: DIA Aviation Manager Kim Day; Dick Kelly, chairman, president and CEO of Xcel Energy; MMA Renewable Ventures CEO Matt Cheney; Frank Smith, CEO, WorldWater and Solar Technologies Corp.; and Ron Kenedi, vice president of Sharp Solar Energy Solutions Group.
MMA Renewable Ventures, a subsidiary of Municipal Mortgage and Equity, LLC "MuniMae" which financed, owns and operates the two megawatt system, joined with WorldWater and Denver International Airport to develop an innovative public-private partnership, leveraging tax credits and incentives to finance this landmark solar power system.
This partnership enabled the City of Denver and Denver International Airport to deploy this solar array under a long-term contract or Power Purchase Agreement (PPA). Designed and installed by WorldWater, using more than 9,200 Sharp solar panels, the new ground-mounted photovoltaic solar arrays employ a single-axis tracking system that follows the sun during the day for greater efficiency and energy production.
"This installation at Denver International Airport fits with our Greenprint Denver action agenda for sustainability and our pledge to do all that we can to reduce our carbon footprint," said Mayor John Hickenlooper. "We are proud to have such a large and prominently placed solar power system at DIA. This installation is both a symbol and a practical example of the City's commitment to renewable energy."
Added Kim Day, aviation manager for Denver International Airport, "DIA has a long-standing commitment to sustainable operations and environmental protection. This project makes a visible environmental statement to the millions of passengers that travel through our airport."
Frank Smith, CEO of WorldWater commented, "We are delighted that such a major metropolitan airport as Denver International has embarked on a solar energy system that is as impressive in scope as this two megawatt installation, which is the equivalent in size to seven football fields. In addition, our expertise in designing and installing commercial-scale solar systems enabled us to address the complex power needs of a major transportation hub like Denver International."
"By securing power through a power purchase agreement rather than major capital investment, DIA will benefit from a renewable energy system that is cost-effective from its very first day of operation, and for years to come," said Matt Cheney, CEO of MMA Renewable Ventures.
"Our collaborative effort serves as an example of how successful public-private partnerships can help municipal facilities make the most of tax credits and other incentives available for solar energy."
Ron Kenedi, vice president of Sharp Solar Energy Solutions Group, noted, "As a leading global solar provider, Sharp is proud to be part of this tremendous effort to help Denver achieve its ambitious sustainability goals. This solar PV system will significantly reduce greenhouse gas emissions, electricity costs, and grid constraints -- while helping to improve Denver's air quality and the region's overall environment."
"This project is right in line with the clean energy future we envision at Xcel Energy," said Dick Kelly, chairman, president and CEO of Xcel Energy. "We were pleased to play a role in helping Denver and Colorado meet the ambitious goals its leaders have set with the Renewable Energy Standard and Greenprint Denver."
The project is part of the Xcel Energy Solar*Rewards program and will receive a rebate to offset the upfront construction costs. Xcel Energy will purchase the renewable energy credits from the clean electricity produced in support of Colorado's Renewable Energy Standard, which requires large utilities to generate 20 percent of their power from renewable energy sources by 2020.
One of three U.S. airports to be accepted into the Environmental Protection Agency's National Performance Track Program, DIA's solar project illustrates how sustainable development can work as an integral operating principle -- while the airport maintains a successful, profitable business, breaking records for passenger traffic and earning high customer satisfaction ratings.
The array is one of the largest solar installations at any public airport in the U.S.
Operated by the City and County of Denver, DIA is the fifth busiest international airport in the United States, serving nearly 50 million passengers annually. With the City of Denver, Xcel Energy has developed an educational display in DIA's Jeppesen Terminal to explain the benefits of solar energy.
Source - Solardaily
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