Solar Power Partners Introduces Hawaiian Solar Energy Fund

To help building owners in Hawaii access renewable energy without investing their own capital, Solar Power Partners, Inc. (SPP) initiated a power purchase agreement (PPA) program for commercial buildings in Hawaii.

This coincides with the establishment of SPP LLC2, a renewable energy fund for investing in Hawaiian commercial solar energy facilities. “The PPA model is the most effective energy financing method and now SPP is working in partnership with small and independent commercial businesses in Hawaii making solar most affordable,” said Craig M. Hunt, Co-founder and CEO of SPP. SPP’s PPA allows for maintenance and operating costs to be covered while building owners pay only for the electricity that is consumed. 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. Since 1999 typical commercial Hawaiian energy rates have increased over 60%. “Hawaii’s current energy sources are close to grid parity and new green solar energy resources have fundamental benefits,” said Alexander v. Welczeck, cofounder and COO. “Same as the building owner and local government, SPP’s foremost interest is developing the best quality solar energy facility that provides the highest productivity kWh with the longest life.”
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