One MW School Solar Project Receives Funding

[RenewableEnergyAccess.com] Solar Integrated Technologies (SIT), which specializes building integrated photovoltaic (BIPV) roofing systems, announced that GE Commercial Finance Energy Financial Services has funded the first phase of an initial investment in SIT’s San Diego City Schools (SDCS) project. The first phase of funding was approximately USD $9.5 million, resulting from the completion of ten SDCS solar roofing projects totaling more than one MW of solar power capacity. Four remaining SDCS campuses are expected to be completed and funded in June 2005. The collaboration between Solar Integrated Technologies and GE Commercial Finance Energy Financial Services provides roofs that generate solar electricity for the San Diego schools. Following an initial investment of approximately $17 million for the SDCS projects, GE Commercial Finance Energy Financial Services has the right of first refusal on up to $500 million to fund existing and prospective solar roofing projects as they come from Solar Integrated.
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