Greentech Lead America: Tioga Energy, a provider of
renewable energy services to commercial, government and non-profit organizations,
has closed construction and long-term financing for the first tranche of
projects completed as part of Tioga’s 4.4 MW, multi-site solar PPA program for
the Hemet Unified School District in Hemet, Calif.
Financing was made through SurePath Solar power purchase
agreements (PPAs) from Tioga Energy. Tioga Energy will build solar electric
systems for 17 facilities within the Hemet Unified School
District. The installations will save administrators an estimated $300,000
in utility costs annually.
Tioga has partnered with Wells Fargo & Company and De
Lage Landen (DLL) for the financing. The solar electric systems for Hemet are
the first to be developed under a master financing agreement between Tioga
Energy and DLL.
“Tioga Energy has a history of smart project selections
and exceptional execution capabilities. Our relationship with the company has
proven to be a strong asset to DLL and our firm remains committed to supporting
Tioga’s developments over the long term,” said Mark McGovern, general manager,
Clean Technology Group, De Lage Landen.
Wells Fargo’s participation in the projects as a
construction lender and tax equity investor alongside DLL’s tax equity
investment has further broadened the scope of the Tioga-DLL financing facility.
“The Hemet projects represent the cornerstone of
Tioga’s growing relationship with two highly-respected financial entities. We
are committed to delivering high quality projects to our finance partners and
low-cost energy to our customers as we expand access to renewable energy for
customers from coast to coast,” said Paul Detering, CEO of Tioga
Energy.
Tioga Energy completes solar project developed through NYSERDA
funding
Tioga Energy recently completed a solar electric system
atop the new BJ’s Wholesale Club location in Deer Park, N.Y. The project is the
first of two Tioga Energy installations developed through an incentive from the
New York State Energy Research and Development Authority (NYSERDA).
editor@greentechlead.com