C2 Energy Capital Works with Solar Partners to Guide a School Solar Project to Successful Completion
C2 Energy Capital LLC, a rapidly growing developer and investor in renewable energy and storage assets, announced the completion of a one-megawatt solar power project for the Otsego Local School District located near Bowling Green, Ohio. The company financed, owns, and operates the project. The first clean energy project of its kind with the local Tontogany utility, C2 Energy Capital supported regional developer, Solar Power & Light (SP&L) who worked closely with the school board, the local utility, and community to deliver a high-quality solar project with no capital expense for the school district.
The project is powered by advanced thin film modules from First Solar, Inc. which were designed and developed at the company's research and development (R&D) centers in California and Ohio. First Solar, America's largest solar manufacturer, has its roots in Ohio, and operates the Western Hemisphere's largest solar manufacturing footprint across two factories in Perrysburg and Lake Township.
The Otsego Local School District includes 3 schools and educates 1,500 students in grades Kindergarten through 12th. The district's Superintendent shepherded the solar project by collaborating with SP&L and landing the district with an estimated cost savings of more than $900,000 over the life of the system. In addition to using lower-cost clean energy, the school district will also benefit from a STEM (science, technology, engineering, and math) educational component that SP&L developed, allowing students to learn about sustainability and renewable energy technology.
"The average price of a school solar installation has dropped 67% in the last ten years, making solar energy a smart decision for schools' budgets. The most important factor for a successful solar installation in a school is an experienced team. Together, our partners have installed solar on dozens of schools in the Midwest and we are proud of the level of expertise, quality, and service we can offer," says Richard Dovere, Co-founder and Managing Member of C2 Energy Capital.
The partnership between C2 Energy Capital, First Solar, and SP&L took a value-driven approach that resulted in cost-savings and reduced project risk for the school through strategic technology procurement, employing local and Ohio resources, and arranging ongoing project performance analysis.
"Both C2 Energy Capital and First Solar were key players in the success of this solar project," said Neil Chaudhry, CEO, Solar Power & Light. "First Solar impressed us with their responsive service and technical support. While the Otsego project was in First Solar's backyard, we would love to deploy their high-performance module technology to other schools in Ohio and beyond. And more importantly (for the schools who are under budget pressures) we can do this at little or no upfront costs to the schools through our partnership with C2 Energy."
The Otsego Local School District, one of the most progressive districts in Ohio, has stepped into a leadership role for environmental stewardship and renewable energy. They have initiated a STEM-based educational component on clean energy and are using savings from the solar energy to support their teachers and curriculum.
ABOUT C2 ENERGY CAPITAL
C2 Energy Capital, LLC, a rapidly growing investor and developer of renewable energy and storage assets, provides capital and support services for the development and construction of assets as part of a long-term ownership strategy. Founded in 2014, the company manages capital on behalf of leading investors and is an SEC-Registered Investment Adviser. With a steadfast commitment to building long-term relationships, C2 Energy Capital's experienced leadership team collaborates with developers, vendors and power purchasers to safely deliver high-quality power plants. To learn more visit www.c2.energy (important disclosure information).
ABOUT SP&L, LLC
Solar Power and Light (SP&L) is an Integrated Energy Company. Everything we do is designed to help our customers take charge of their future by cutting costs, hedging risk, and meeting sustainability goals within the area of electric energy spend. SP&L's solution set includes: Solar Powered Energy System development/construction ("Big Solar"); SMARTenergy Line of Products such as solar Signs, Canopies, Carports; and Integrated Energy Management Services encompassing Operations & Maintenance, Energy Efficiency Projects, Power Contract Administration and Environmental Attribute (SREC) Management. www.SPLsolar.com.
ABOUT FIRST SOLAR, INC.
First Solar is a leading global provider of comprehensive photovoltaic ("PV") solar solutions, which use its advanced module and system technology. The Company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar's renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.
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