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Merger Forms Solar Finance and Installation Company

December 22, 2005 | 6 Comments

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San Clemente, California [RenewableEnergyAccess.com] Even with a patchwork of helpful incentives scattered throughout the U.S., and now federal rebates available beginning January, financing for solar projects can still be challenge since these projects are outside the usual comfort zone of most financial institutions. Based on this reality, a new merger aims to streamline the process by combining a solar installation company with a finance arm.

"By integrating design, engineering and construction with our project finance capabilities and large pipeline of projects awaiting construction, SunEdison will now be able to more rapidly and more effectively meet our customer's needs."

--Jigar Shah, Sun Edison LLC, CEO

Sun Edison LLC and New Vision Technologies Inc. signed definitive agreements to merge, forming what they're describing as the nation's largest solar finance and installation company. The combined company, named Sun Edison, LLC will continue its mission to support large commercial solar PV systems. The long-term goal of the merged company is to be the largest owner/operator of solar systems in the US, providing competitively priced power to its customers at prices at or below utility prices.

"By integrating design, engineering and construction with our project finance capabilities and large pipeline of projects awaiting construction, SunEdison will now be able to more rapidly and more effectively meet our customer's needs," said Jigar Shah, CEO of Sun Edison LLC.

Brian Jacolick, CEO of New Vision Technologies, said his company has considerable solar experience, having installed over 10 MW of solar PV systems, with over 150 of these considered commercial in scale.

The combined company will have a national contracting capability with operations in AZ, CA, CO, CT, HI, MD, NC, NJ, and NV.

Additional Information

SunEdison

Other, Solar Energy

6 Reader Comments

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1 of 6

david-culver-41354

December 23, 2005

No operational capacity in Florida.. I think now is the time.. What is the hold up?

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-22434

December 27, 2005

This is a very great renewable energy industry event. I wish the participants well in what could turn out to be an extremely needed micro/macro utility company enterprise. I would even like to personally invest in this concept.

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3 of 6

peter-wolf-40452

January 4, 2006

Costs seem to be high : They plan 25 systems, spending $60 million; the combined power output from their first 3 is enough to power 135 homes. If that holds true throughout the remaining 22 projects, the cost would be 60 million/1125 homes, or about $53 thousand per home. That's over $2500 per year for a 20 year life cycle - not exactly competive by even todays electrical rates.

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4 of 6

david-densford-18957

January 4, 2006

This is a nice step to selling stock in Renewable Energy Coalitions whose combined talents build utility-scale RE Powerplants/Retirement Communities. The dividends from the profits are paid to the stock holders to offset the cost of future Social Security restructuring and corporate pension plan failures.
Start with PV RV Parks and cater to the Snowbirds.
www.triplercommunities.info

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5 of 6

david-densford-18957

January 5, 2006

Mr. Wolf, If the system is integrated into the roof of a 5-Star EPA home and the residents are retirees who do not consume as much energy as a family of 4, then add in the sale of carbon credits and special tax rates for communities not requiring new schools and buses...how economical would the project be? Get creative! Check out www.heliovolt.com who's thin-film panels are supposed to be a lot cheaper to produce and have a higher power output.

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jeremy-taylor-29690

January 8, 2006

Yes, truly inspiring!!! The economic viability is accurate... with today's incentives, available technologies, labor pool, and refined wisdom we're there. In fact, the only reason why these systems have a nameplate, twenty-year lifetime is that panels and inverters ten years from now, will dwarf effeciencies, costs, and system reliablility. Installed racking, conduit, wire, and other devices have and will be cost effective for twice that at least. Thanks to the NEC, UL, etc. and way to go SOLAR.

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