Alliance to provide residents and builders with affordable solar power options
LAKE MARY, FL., November 01, 2011,– BlueChip Energy, LLC (BCE), a fully-integrated solar energy provider for residential, commercial, and utility applications, and real estate investment firm EMF Capital today announced an agreement with Eagle Dunes Homeowners Association to create a community solar platform at the Eagle Dunes Golf Club in Sorrento, FL. Plans include the construction of a solar photovoltaic (PV) power facility to supply electricity for the community infrastructure and a residential solar program that provides existing and future homeowners and homebuilders with access to the SunHouse ™ solar electric system.
The solar PV power facility will be constructed onsite to provide zero-emission power to the HOA's meter system which supplies electricity for the common area infrastructure: including the community amenity center, pool heating system and equipment, guard house and gates, exterior lighting, street lighting and irrigation system. The power facility will significantly reduce the HOA's monthly electric bills as well as its carbon footprint.
The Eagle Dunes residential solar program gives existing and future homeowners the right to purchase a SunHouse™ solar system from BlueChip Energy under a special pricing arrangement. The program is available through 2021 and is open to homebuilders seeking to build within the community. A SunHouse™ solar system delivers clean and affordable solar energy and protects its owners from the rising cost of electricity. SunHouse customers can reduce or eliminate monthly electric bills and even generate long term revenue from energy supplied to the local utility.
"I believe the agreement will provide substantial benefits for the community. With today's growing awareness of environmental concerns, people simply feel good about participating in green initiatives. Our partnership with BlueChip Energy will allow our residents to take part in two important initiatives that are at the forefront of both the economic and environmental landscapes – clean energy and sustainable development. Residents will be able to feel great about their community and at the same time reduce their electric bills and increase the value of their home." said Thomas Fey, president of EMF Capital.
"We are excited to be helping Eagle Dunes become a solar community. Together our efforts will demonstrate a shared goal to reduce Florida's dependence on fossil fuels," said Lawrence Hefler, spokesman for BlueChip Energy. "Additionally, we look forward to helping the residents of Eagle Dunes reduce their electric bills and help protect them against future energy rate increases."
Nestled in the gently rolling hills of the Eagle Dunes Golf Club, Sorrento Springs is a gated community featuring amenities such as the Eagle Dunes golf course, a large swimming pool, two tennis courts, a fitness center and clubhouse, a meeting and entertainment pavilion, and a playground. Sorrento Springs currently consists of 477 completed homes and 201 builder ready home sites. Many of the home sites have gorgeous golf course views. Sorrento Springs is located in eastern Lake County and is 15 minutes from the Lake Mary business district and approximately 45 minutes north of downtown Orlando. Sorrento Springs is just eight miles from the quaint city of Mount Dora.
About EMF Capital, Inc.
EMF Capital, Inc. ("EMF") is a residential real estate investment firm focused on land acquisition, joint venture development and structured financing for homebuilders. EMF has partnered with public and private homebuilders throughout Florida creating structured transactions ranging from small lot acquisitions to full scale development of master planned communities. Since its inception in 2005, EMF and its affiliated investment companies have closed in excess of $150 million in structured transactions.
About BlueChip Energy, LLC
BlueChip Energy, LLC (BCE) is a fully-integrated solar PV power generator, occupying all segments of the solar power value chain -- from the manufacturing of solar panels and balance of systems components by its wholly owned subsidiary Advanced Solar Photonics, to the sale of turnkey solar power plants, to the sale of solar electricity to utility, commercial and residential customers. BCE develops, finances, builds, operates, and monitors solar plants for companies and individuals, as well as for its own portfolio.
BlueChip Energy's two flagship utility scale solar projects, the Rinehart Solar Farm (10 MW) and the Sorrento Solar Farm (40 MW), received approval from the Federal Energy Regulatory Commission (FERC) as self-certified small power production facilities, or Qualified Facilities (QFs) earlier this year, requiring the local utility to provide interconnection to them and purchase the electricity they produce. Additionally, these two solar farms have received approval to operate as Exempt Wholesale Generators (EWGs), providing the facilities with undisputed access to the power distribution network. FERC has also granted the company Market-Based Rate Authorization, allowing BCE to purchase and sell wholesale electricity and offer renewable energy products to customers.