Stamford, Connecticut [RenewableEnergyAccess.com] GE Energy Financial Services, a unit of GE, announced that it is partnering with SunPower Corporation to provide financing for five California solar photovoltaic (PV) projects. The projects will total approximately 8 megawatts (MW). Financial details of the transaction were not disclosed.
The five projects SunPower is developing as part of the agreement include a 2.3-MW rooftop PV system at the Toyota Motor Sales, USA Ontario Parts Center, a 1-MW rooftop system serving an eight-building printing technology R&D facility for HP, a 1-MW solar tracking system for Agilent Technologies, two ground mounted systems totaling 2.4 MW for Lake County California and a 1-MW ground mounted system for the Rancho California Water District.“Aggregating several projects into one portfolio gives us financial scale to realize the advantages of project finance structuring,” said Kevin Walsh, managing director of GE Energy Financial Services. “In addition, this transaction diversifies our renewable energy portfolio with more solar assets and supports ecomagination, GE’s program to help its customers meet their environmental challenges while expanding its own portfolio of cleaner energy products.”