Constellation will provide financing to build, own and operate the solar power systems. It will also sell the electricity generated by the systems to customers through power purchase agreements.
“With more than 40MW of project experience and a strong reputation with its customers, PsomasFMG is a natural fit as we expand our solar energy capabilities for businesses and public agencies in California,” says Brendon Quinlivan, director of solar sales for Constellation.
The partners have completed or are building four solar projects in southern California. These include a 7.6MW portfolio of systems for Chaffey Joint Union High School District in Ontario; a 1MW system Keppel Union School District in Pearblossom; a 976kW system for the city of Palmdale, and a 878-kilowatt system for Castaic Union School District in Valencia.
“During a time when many schools and public agencies are dealing with major budget constraints, on-site solar generation through a power purchase agreement is a way to reduce electricity costs,” says PsomasFMG chief executive Lou Kwiker.
Quinlivan adds that structuring solar projects as power purchase agreements requires no upfront capital from customers. It also provides them with fixed power costs that are often less than projected market rates.
Constellation is a subsidiary of Chicago-based Exelon, one of the largest US electric utility holding companies.
