By Greentech Lead Team: Borrego
Solar Systems, a designer, installer and financier of grid-tied solar
photovoltaic (PV) systems, announced that it has received a contract from the
General Services Administration (GSA). This contract allows Borrego Solar to
provide its solar installation services to federal agencies.
The GSA contract will help
strengthen Borrego Solar’s growing federal portfolio, which includes a nearly
one megawatt (MW) solar project at the Point Loma Navy Base in San Diego bay
and a 3.4 MW project at Edwards Air Force Base.
“This contract win is good
news for Borrego Solar, as it provides us more opportunities to partner with
federal agencies and develop cost-effective solar installations,” said Mike
Hall, Borrego Solar CEO.
Borrego Solar also
offers a power purchase agreement (PPA), where Borrego Solar absorbs the costs
of design, construction, operation, and maintenance of a solar energy system
and then sells the energy back to federal facility managers at a predetermined rate.
It allows federal agencies to achieve renewable energy goals and save on
operational costs, with zero up-front investment.
Borrego Solar’s solar installation
services are in increased demand, particularly with the Department of Defense
(DoD), which is expected to continue to increase spending on renewable energy.
“Solar energy is a smart investment
for the federal government, and we look forward to helping more agencies reduce
their energy consumption and achieve energy independence through our financing,
design and installation services,” added Hall.
Borrego Solar Systems recently
closed a
new $47 million fund with partners U.S. Bank and East West Bank to finance
solar energy projects for corporate, education and municipal customers.
With this fund, U.S. Bank and East
West Bank have continued their successful partnership with Borrego Solar,
bringing cost effective Power Purchase Agreements (PPAs) to credit worthy
government and private sector clients.