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SPP Introduces SPP LLC1, a California Solar Energy Fund

January 10, 2007 | 4 Comments

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San Francisco, California [RenewableEnergyAccess.com] Solar Power Partners (SPP), a developer, owner and operator of a distributed network of commercial solar energy facilities, has formally initiated its power purchase agreement (PPA) program for mid-size commercial buildings in California; the program helps fund the upfront capital costs associated with purchasing or leasing solar systems.

"The PPA model is the most effective energy financing method and now SPP is working in partnership with small and independent commercial businesses making solar most affordable."

-- Craig M. Hunt, Solar Power Partners, co-founder and CEO

The PPA ensures energy rates remain lower than the local utility and insulates the user from volatile energy prices over the term of the agreement. The maintenance and operating costs are covered while building owners pay only for the electricity that is consumed.

"The PPA model is the most effective energy financing method and now SPP is working in partnership with small and independent commercial businesses making solar most affordable," said Craig M. Hunt, co-founder and CEO of SPP.

SPP's turnkey performance based service (PBS) is in line with the newly announced California Solar Initiative program (CSI), a performance based incentive (PBI), as overseen by the California Public Utilities Commission (CPUC). SPP is the general partner and manages the new SPP LLC1 Fund for California Commercial Solar Energy.

Additional Information

Solar Power Partners

Green Power, Other, Solar Energy

4 Reader Comments

Comment
1 of 4

doug-sherman-46666

January 10, 2007

Is anyone aware of similar arrangements for residential systems, i.e., funding upfront capital costs with a lease to purchase agreement?

Comment
2 of 4

tom-catino-33265

January 12, 2007

Hey Doug Sherman,

We have a straight lease agreement for homeowners.

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Comment
3 of 4

marlacparker

April 27, 2007

What size PV systems do you install on a "mid-size commercial" building? What is the smallest and the largest that you would expect to operate? And will you operate systems in a particular region or the entire State or more than one state?

Comment
4 of 4

eric-herman-113550

July 10, 2008

Is there any information out there as to whether a PPA would qualify as "off-balance sheet" financing for a commercial customer? Since most PPAs have long terms and they also have termination schedules, I am not seeing how they can pass the tests of FAS13 regarding capital vs. operating.

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