Solar facility developer Solar Power Partners, Inc. (SPP) has placed 19 new solar energy facilities into commission, with a total capacity of 7.7MW. The 19 new facilities were funded by SPP Fund II, LLC, and, combined with the 5.1MW projects funded by SPP Fund I, place SPP as one of the top solar developers in the U.S. The projects will provide solar power to customers such as three universities, two healthcare facilities and several corporate clients.
Financing of the SPP funds, and consequently of the new facilities, is provided by Bank of America in the form of a tax equity investment and Energy Investors Funds through their United States Power Fund III, L.P.
“SPP is a quality developer and asset manager in the commercial solar PPA market, which is evidenced by this most recent placement of 19 SEFs,” said Brian Tracey, Bank of America Tax Credit Executive. “We are pleased to have the opportunity to work with this company to expand the use of renewable solar energy in the United States.”