Partner Channels

The Definitive Source of Information on the Following Subjects:

Building Automation | Building Envelope | Commercial Roofing | Cooling
Energy Measurement | LED Lighting | Lighting Control | Site Furnishings

NEW SERVICE SPOTLIGHT: Power Purchase Agreement By Borrego Solar

Written by Heidi Schwartz. Posted in Energy, Environment, New Service Spotlight

Tagged: , , , ,

Published on October 29, 2009 with No Comments

Borrego Solar Systems, Inc., a designer and installer of grid tied solar electric power systems, recently introduced a financing option for schools, companies, and government organizations that want to begin using solar energy to power their facilities. Borrego’s power purchase agreement (PPA) program provides organizations an avenue through which to finance a solar project without having to assume the up-front costs of the project or work with a third-party financier.

Veritable Vegetable, a distributor of certified organic produce, installed a 106-kW solar electric system on its refrigerated warehouse in San Francisco.

Veritable Vegetable, a distributor of certified organic produce, installed a 106-kW solar electric system on its refrigerated warehouse in San Francisco.

With $30 million backing from a PPA fund launched by Walsin Lihwa, a current investor, Borrego is positioned to develop and finance more than $100 million solar projects over the next 12 months. PPAs are programs by which a third-party company (in this case, Borrego) pays for the installation of the solar system, and then “sells” the power back to the customer. For organizations that want to incorporate solar energy but can’t secure funding from internal budgets or a bank, a PPA can offer a solution. Through its PPA service, Borrego is now offering financing in addition to its established design, engineering, and procurement services..

Based in San Diego, CA, with a New England headquarters in Lowell, MA, Borrego Solar offers its services in California, New England, New Jersey and New York.

“We continue to see significant demand for grid tied solar systems, but a common concern for many customers is the lack of financing available to design, install and maintain the system,” said Mike Hall, CEO of Borrego Solar. “And though the PPA is not a new concept, some customers don’t want the hassle of finding a third-party financing option or the restriction of having to deploy the technology chosen by the PPA provider. By choosing a Borrego PPA, customers deal with one company for system financing, design, construction, operation, and maintenance. As a result of this program Borrego is now able to offer our customers a ‘one stop shop’ for all solar energy services—all without the technology lock-in of other programs.”

About Heidi Schwartz

Heidi Schwartz

Schwartz joined Group C Media in April 1989 as managing editor of Today's Facility Manager (TFM) magazine (formerly Business Interiors) where she was subsequently promoted to editor/co-publisher of the monthly trade magazine for facility management professionals. In September 2012, she took over the newly created position of internet director for TFM's parent company, Group C Media, where she is charged with developing content and creating online strategies for TFM and its sister publication, Business Facilities. Schwartz can be reached at schwartz@groupc.com.

Browse Archived Articles by

No Comments

There are currently no comments on NEW SERVICE SPOTLIGHT: Power Purchase Agreement By Borrego Solar. Perhaps you would like to add one of your own?

Leave a Comment