Main Street Power's Five-Megawatt Solar Installation at Arizona Western College among winners of the 2012 Photovoltaic Projects of Distinction Award
The announcement and ceremony took place at PV America's annual conference in San Jose, CA
San Jose, CA - The 5MW multi-technology installation at Arizona Western College in Yuma, AZ was recognized this morning by the Solar Energy Industries Association (SEIA) and the Solar Electric Power Association (SEPA) as one of the three most distinct photovoltaic projects of 2012. The announcement and ceremony took place at PV America's annual conference in San Jose, CA.
A subsidiary of Main Street Power will own and operate the system for the next 30 years, saving AWC an estimated $62 million based on current electricity rates. This landmark system is composed of five one-megawatt sites across the campus, and will offset nearly 100% of the campus's daytime electricity.
"This award is a testament to a great team of collaborators including the EPC contractor, Rosendin Electric, who provided an excellent team of installers as well as the staff of Main Street Power. Special recognition also goes out to PPA Partners who originally brought the project to us, the leadership at AWC, and our partners at Morgan Stanley," said Jonathan W. Postal, Sr. VP of Main Street Power.
The installation was facilitated by the APS Renewable Energy Incentive Program, which offers financial incentives to residential and commercial customers. The Program is funded by APS customers and approved by the Arizona Corporations Commission. The overall financing was facilitated through Main Street's unique financing structure with MS Solar Solutions Corp., an indirectly wholly-owned subsidiary of Morgan Stanley.
The technologies include CPV panels from SolFocus and GreenVolts, Thin Film panels from Sharp Solar, Mono Crystalline panels from SolarWorld and Poly Crystalline panels from Suntech. The system will utilize single-axis trackers from SunEdison and dual-axis trackers from SolFocus and GreenVolts; the tracking systems allow the panels to continually track the movement of the sun in order to maximize electricity generation.
"These are exciting times for the U.S. solar industry and the recipients of these awards exemplify energy innovation at its best," said Rhone Resch, president and CEO of SEIA. More than 84 projects were evaluated by a panel of independent judges, determining the uniqueness and collective benefit to the community. Judges also looked for innovative use of policy and financing to enhance the project's impact, according to SEPA and SEIA.
About Main Street Power Company: Main Street Power is a developer, financier and owner/operator of distributed generation solar projects across North America. The company works with schools, municipalities, universities, corporations and nonprofit entities to provide a complete turnkey solar system with no upfront capital outlay. Services include power purchase agreements, leases and other innovative financing solutions. For each development, Main Street Power forms local partnerships with installers, electricians, engineers, general contractors, unions and workforce development groups.
About MS Solar Solutions: MS Solar Solutions Corp. is an indirect wholly owned subsidiary of Morgan Stanley (NYSE: MS), one of the world's leading financial institutions. MSSS focuses on developing solar photovoltaic (PV) projects through strategic relationships with various industry participants including developers, suppliers, installers, governmental agencies, end-users and the community at-large.