Three schools in Arizona's Buckeye Union high school district are to be the recipients of a PV installation. REgeneration Finance, LLC, an experienced solar finance and development firm, has arranged the financing for an estimated 4.29MWp (DC) solar project.
The installation of the PV arrays will be completed by CORE Construction, a leading national construction company with a regional office in Buckeye. GV Enterprises, a local project management firm and solar consultant Natural Power & Energy are also part of the project development and construction team.
REgeneration Finance was selected as the financing party by the Buckeye Union High School District following a competitive public bid process. This will be the second Arizona school project developed and installed by the team of REgeneration Finance, CORE Construction, GV Enterprises and Natural Power & Energy. The Buckeye Union high school district project will consist of both ground-mount and elevated ground-mount PV arrays.
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“The Solar Team we have assembled will be completing the installation of the solar project in December of this year – bringing clean electricity to power our schools and providing about 70% of the district’s power needs,” said the project manager at GV Enterprises, John Drew.
REgeneration Finance and the school district have entered into a power purchase agreement, under which REgeneration Finance owns and operates the project for the 25-year life of the contract, and the Buckeye Union high school district purchases the electricity generated by the systems at a predetermined rate. The school district is not responsible for any upfront costs or ongoing maintenance of the solar project.
“In addition to the obvious environmental benefits of this project, it is bringing public and private funding to the Buckeye area, creating local jobs and providing financial and educational benefits to the Buckeye Union High School District, all without any upfront cost to the School District. It’s a win-win situation for the entire community,” said REgeneration Finance CEO Laurance Friedman.
The project is part of Arizona Public Service’s Renewable Incentives Program. The project will be built with local labour provided by CORE Construction, and a portion of the PV modules used in the arrays will be manufactured locally by Suntech at its recently-opened plant in Goodyear, Arizona.