PsomasFMG and Constellation to Develop up to 50 Megawatts of Solar Generation for California Schools and Municipalities
First 10 megawatts currently under construction; power purchase agreements enable customers to install solar generation with no upfront capital
SAN FRANCISCO--(BUSINESS WIRE)--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.
“We look forward to working with PsomasFMG to help customers meet their environmental goals and better manage their energy costs.”
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 email@example.com or (714)465-4904.
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
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.