~Full Suite of Funding Resources and Expertise to be Available to Commercial Solar Market~
NOVATO, CA- September 21, 2010-SPG Solar, a leading US solar installer and recently ranked as the second largest in California, announced today that it will offer access to a full array of financial resources and expertise on public funding and tax credit opportunities for commercial solar projects. SPG Solar's Structured Finance Group will be headed by Michael Johnson, the former Managing Director of the Renewable Energy Investment Program for the National Development Council, who joined SPG Solar in June, 2010 as Vice President of Project Finance.
With the formation of its Structured Finance Group, SPG Solar becomes an industry leader as one of the few companies able to provide this combination of expertise and access to the private and public funding needed to make solar projects economically viable and a sound investment for the long-term. Due to SPG Solar's track record of success and reliable installations, the Structured Finance Group within SPG can now offer its customers access to its third party funding partners for Power Purchase Agreements (PPAs), debt and equity investment, operating and capital lease arrangements and participation in Renewable Energy Funds. The Group also brings together the industry's leading experts on federal and state government Solar Renewable Energy Credits, available public funding through CREB bond offerings, Department of Energy Grants and utility incentive programs.
"We are taking the mystery out of a very complex funding process for our customers," noted SPG Solar President and CEO, Thomas Rooney. ‘SPG Solar is a relationship-based company, and we will build upon this as we make the connections between our customers and the investment community."
About SPG Solar, Inc.
SPG Solar is a leading developer of distributed solar projects for large, government and public energy users. Located in Novato, California, SPG Solar is helping to meet rising energy demand by developing clean power using solar systems located where they are needed most - at the site of the user. The company prides itself on unique and custom solar solutions such as developing the Floatovoltaic™, the world's first floating solar system, making it possible for businesses to switch to clean, solar power without having to give up valuable land and receive unique water benefits. SPG Solar currently manages more than 1,500 solar system installations from coast-to-coast. For more information on SPG Solar and distributed solar power, please visit www.spgsolar.com.