During this time of economic uncertainty, MP2 Capital, along with Namasté Solar and Oak Leaf Energy Partners, has found a way to save money, while still creating new solar projects. The companies just finished phase one of a 1.8MW solar array for the first five of sixteen schools in the Denver Public School District, which over the lifetime of all the solar installations will save the school district an estimated US$1.1 million. The remaining projects are assumed to be completed by the end of this year.
The rooftop installations will generate around 2,521,890kWh of electricity during their first operational year and produce around 45 million kilowatt hours over their lifetime. Additionally, Namasté Solar has invested in the education of the DPS students by creating a program for the district’s teachers on the science and economics of solar power production and the use of solar projects.
“We are excited to be on the forefront of providing clean, renewable energy projects, predictable energy rates and energy education through real solar projects installed on school roofs. Our educators are provided a major opportunity to expand on the existing science curriculum by providing students real examples of solar renewable energy projects right here in Denver,” said Jim Faes, director of sustainability for Denver Public Schools.
MP2 Capital took on the financing for the projects and let DPS lock in a long-term energy rate with renewable energy credits to Xcel Energy. Through a 20 year PPA, the school district will obtain the electricity generated from the system from MP2 Capital. The projects at Denver Public Schools are being made possible with the help of grants from the American Recovery and Reinvestment Act.