Kaiser Permanente Gets 15 MW of Solar

This week Kaiser Permanente signed a deal with Recurrent Energy that will allow it to deploy 15 MW of solar power on 15 of its California facilities.

Kaiser Permanente agreed to purchase the solar power through power purchase agreements with Recurrent Energy, which will own and operate all of the solar power systems. Citigroup, an equity investor on a portion of the projects, was a key partner in structuring the agreements between the two entities.

These agreements allow the not-for-profit health plan and hospital system to partner with a private entity that is eligible for a 30 percent tax credit available to private companies such as Recurrent Energy.  Kaiser Permanente will retain all the Renewable Energy Credits awarded for these solar projects.

The 15 MW of solar power will provide approximately 10% of the electricity needed to run the buildings at the sites, which include Vallejo and Santa Clara medical centers in Northern California, and Fontana and San Diego medical centers in Southern California.

The solar power systems are expected to be operational by the summer of 2011.

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