Alta Energy Makes Acquisition to Deliver Renewable Energy and Cost Savings to California Public Schools
Company assumes solar energy portfolio and key exec from Sovereign Modular; first project saves $250,000 per year for Poway Unified School District
Alta Energy, a company that helps enterprise clients optimize the benefits of renewable energy across multi-facility portfolios, today announced it has acquired the assets of Sovereign Modular, a provider of solar energy solutions tailored to California public schools. As part of the acquisition, Alta Energy will take over a contract to supply California's Poway Unified School District (PUSD) with solar electricity generated by 715 kilowatts of solar photovoltaic (PV) systems that Alta will install on modular classrooms on 16 PUSD campuses. With a power purchase agreement (PPA) in place, the project will bring renewable energy to more than 10,000 students, cut electricity costs by 13 percent and net PUSD approximately $250,000 in savings per year, or more than $5M over the 20-year life of the PPA contract, all with no out-of-pocket expenses.
While the state of California is home to 80,000 portable classroom facilities ideal for solar power, the process of permitting the installation of solar systems on buildings within the public school system has been a barrier for school districts looking to deploy PV systems. With this acquisition, Alta Energy now offers standardized, fast-track permitting for these installations, allowing schools to quickly and cost-effectively go solar and cut monthly utility bills by as much as 25 percent.
"PUSD has long been a sustainability leader among California's public schools, and we're happy to continue that tradition with this project to put solar on our relocatable classrooms," said Chad Koster, Director of Facilities at the Poway Unified School District. "Our PPA with Sovereign Modular (now Alta Energy) will simultaneously serve as a great educational resource for our students and allow us to achieve significant savings on our electricity bills."
As part of this acquisition, Sovereign Modular CEO Marc Roper will join Alta Energy as vice president of marketing. With more than 25 years of expertise in renewable energy industry and a passion for the education sector, Roper will drive Alta Energy's efforts to expand renewable energy adoption in this and other markets.
"Schools in particular stand to gain a lot by going solar, and small systems can provide big benefits," said Alta Energy Vice President Marc Roper. "Adding a PV system to even one or two relocatable classrooms can qualify a school for a much more favorable utility rate, which unlocks savings beyond what the solar panels create on their own. We are excited to combine the expertise and resources of Sovereign Modular and Alta Energy to bring this new twist on solar to public schools across the state."
Prior to Sovereign Modular, Roper served in executive roles at CODA Energy, Tioga Energy, DT Solar/Turner Renewable Energy, and Schott Solar. He is also the vice chair of the board of directors of Interstate Renewable Energy Council (IREC).
"Sovereign Modular's unique offering adds another powerful tool to Alta Energy's belt and supports our overall mission to enable renewable energy solutions for commercial, industrial and institutional clients in California and beyond," said Sam Lee, Founder and CEO of Alta Energy. "We are also fortunate to have Marc join our team, as his experience and expertise will fuel our rapid growth as the standard bearer for helping clients across various sectors to embrace renewable energy while tapping a new revenue stream."
ABOUT ALTA ENERGY
Alta Energy is a renewable energy navigator that guides enterprise customers through the complexities of adopting renewable energy. Supported by proprietary analytics, Alta Energy delivers tailored, objective recommendations on the renewable energy technologies, vendors, and financing options that best meet the needs of each customer and project site. By empowering customers to make smarter energy decisions, Alta Energy is helping to expand renewable energy deployment across the United States. For more information, please visit www.altaenergyinc.com