PsomasFMG
and Constellation
today announced an agreement to develop up to 50 megawatts of solar
distributed generation projects for California-area schools and
municipalities through the end of 2015. The agreement calls for
Constellation to provide financing to build, own and operate the solar
power systems and sell the electricity generated by the systems to
customers through power purchase agreements.
To date, four solar projects have been completed or are currently under
construction in Southern California: an 878-kilowatt system for Castaic
Union School District in Valencia, a 7.6-megawatt portfolio of systems
for Chaffey Joint Union High School District in Ontario, a 1-megawatt
system for Keppel Union School District in Pearblossom, and a
976-kilowatt system for the city of Palmdale.
“Our solar project with PsomasFMG and Constellation is the
proverbial win-win for everyone involved,” said Palmdale Mayor Jim
Ledford. “It is enabling Palmdale to provide clean energy and meet our
greenhouse gas reduction goals, while saving money for our residents.”
“During a time when many schools and public agencies are dealing with
major budget constraints, on-site solar generation through a power
purchase agreement is a way to reduce electricity costs,” said Lou
Kwiker, chief executive officer of PsomasFMG.
Kwiker added, “Constellation’s 180 megawatts of distributed generation
solar projects currently under contract, as well as its financing
capabilities and energy services experience, make Constellation uniquely
qualified to meet our needs and the needs of our customers. Under this
agreement, Constellation and PsomasFMG will be able to offer
unparalleled development, installation, financing and asset management
services, enabling customers to maximize the savings and value from
solar energy systems.”
“With more than 40 megawatts of project experience and a strong
reputation with its customers, PsomasFMG is a natural fit as we expand
our solar energy capabilities for businesses and public agencies in
California,” said Brendon Quinlivan, director of solar sales for
Constellation. “We look forward to working with PsomasFMG to help
customers meet their environmental goals and better manage their energy
costs.”
Quinlivan added, “As a national energy supplier, Constellation is
committed to providing customers opportunities for the adoption of
distributed generation in parallel with their larger energy purchasing
strategies. Structuring solar projects as power purchase agreements
requires no upfront capital from customers, and provides them with fixed
power costs that are often less than projected market rates.”
Constellation currently owns more than 180 megawatts of solar
installations that have been completed or are under construction for
commercial, industrial and government customers throughout the United
States. Of that total, the company has installed 90 megawatts of solar
installations for school and municipal locations in California and
Arizona.
California schools and municipalities interested in on-site solar
through a power purchase agreement with Constellation may contact
PsomasFMG at pmikos@psomasfmg.com
or (714)465-4904.
About PsomasFMG
Based in Huntington Beach, CA, PsomasFMG provides turnkey solar
solutions to its clients by utilizing a combination of engineering
expertise, private investor funding, utilizing federal and state
subsidies. In 2010, PsomasFMG completed the largest operational school
solar system in Southern California, a 9.6 MW project across 10 schools
in the Antelope Valley Union High School District. Utilizing Power
Purchase Agreements and requiring no capital outlay from its host
clients, PsomasFMG has also completed over 26 MWs of solar projects for
offtakers such as County of Orange and several multi-campus school
districts in Los Angeles County such as William S. Hart School District,
Wilsona School District, Palmdale School District, and Hughes-Elizabeth
Lake School District. PsomasFMG has developed several other solar
projects currently under various stages of design and construction for
the City of Palmdale, Castaic Union School District, Keppel Union School
District, Chaffey Joint Union High School District, a 3MW project with
the City of Lancaster under a PPA with Southern California Edison and a
design-build project for the Redondo Beach Unified School District.
PsomasFMG is dedicated to bringing value to California school and
communities. For more information about PsomasFMG visit www.PsomasFMG.com
About Constellation
The Constellation family of retail electricity and natural gas suppliers
(www.constellation.com),
are subsidiaries of Exelon Corp., and are leading competitive retail
suppliers of power, natural gas and energy products and services for
homes and businesses across the continental United
States. Constellation’s retail businesses serve more than 100,000
business and public sector customers, including more than two-thirds of
the Fortune 100, and nearly one million residential customers.
Exelon Corporation (NYSE: EXC) is the nation’s leading competitive
energy provider, with 2013 revenues of approximately $24.9 billion.
Headquartered in Chicago, Exelon does business in 48 states, the
District of Columbia and Canada. Exelon is one of the largest
competitive U.S. power generators, with more than 35,000 megawatts of
owned capacity comprising one of the nation’s cleanest and lowest-cost
power generation fleets. The company’s Constellation business unit
provides energy products and services to approximately 100,000 business
and public sector customers and approximately 1 million residential
customers. Exelon’s utilities deliver electricity and natural gas to
more than 7.8 million customers in central Maryland (BGE), northern
Illinois (ComEd) and southeastern Pennsylvania (PECO). Follow Exelon on
Twitter @Exelon.
Copyright Business Wire 2014