San Francisco, California [RenewableEnergyAccess.com] MMA Renewable Ventures, a company which coordinates the financing, installation, and operation of renewable energy systems and energy efficiency projects, announced that it is financing the installation of new solar energy systems at two California college campuses: California State University, Fresno (Fresno State) and Los Angeles Community College District’s East Los Angeles College (ELAC). At roughly one megawatt (MW) per location, the installations are set to be among the largest photovoltaic systems in U.S. higher education.
Fresno State’s 1.1 MW solar installation will meet approximately 20 percent of the university’s annual power needs. Through its Power Purchase Agreements (PPAs) with MMA Renewable Ventures, Fresno State expects to save more than $13 million in avoided utility costs over the 30-year life of the solar power system. Consisting of 3,872 solar panels mounted on top of more than 700 carport stalls constructed in campus parking lots, the company says that this is the largest solar parking project at any university in the U.S.
Upon its completion, ELAC’s new solar energy system is expected to generate 1.6 million kilowatt hours (kWh) of clean power annually, enough to cover nearly all the ELAC campus’ daytime electricity needs.
MMA Renewable Ventures will own and operate the clean energy systems and sell electricity to Fresno State and ELAC under a long term PPA. MMA Renewable Ventures partnered with Chevron Energy Solutions, a unit of Chevron, to create a tailored financial solution for each project. Chevron Energy Solutions developed and engineered the projects and is overseeing their construction.