Energy Finance Company (EFC), through its FUSE Fund (Funding Solar Energy Fund), formally activated its 625,000 watt solar power system at a ribbon cutting ceremony held at the projects site located in San Antonio, Texas on May 8th.
The project consists of over 2,700 solar panels located on the roof of a large warehouse complex and will sell 100% of the power to CPS Energy under a 20 year Power Purchase Agreement (PPA). The project is part CPS Energy’s Solartricity Program and expected to produce about one million kilowatt hours of solar electricity in the first year.
CPS Energy is the nation’s largest municipally owned energy utility serving more than 717,000 electric customers in and around the seventh-largest city in the nation.
Among the dignitaries in attendance were Don Stanton, CPS Energy, Bill Sinkin, Chairman of Solar San Antonio, the longtime solar advocate and champion who founded the non-profit Solar San Antonio, Lanny Sinkin, Executive Director of Solar San Antonio, Andrew Wood, Research Associate of Solar San Antonio, Reyad Fezzani, Chairman and CEO of EFC and Jordan Newman, Executive Vice President Finance of EFC.
The installation was completed by Ontility, a Houston, TX based solar construction company and included electrical contracting by KDR Electrical Services and CDI Technology Services, a Member of The South Texas Chapter of National Electrical Contractors Association (NECA).
Andrew Wood with Solar San Antonio commented “We appreciate what you have done for solar in San Antonio. Hopefully we can expand your presence here and get some more large projects financed.”
Reyad Fezzani, CEO of Energy Finance Company stated “EFC and its FUSE Fund are excited to enter the Texas market with a high-quality solar power project that will make a positive contribution and statement that solar has reached economic viability with many benefits.”