SOURCE: Distributed Sun

Distributed Sun

December 20, 2010 11:46 ET

Distributed Sun Accelerates 2011 Project Calendar

Forms Fast-Track Commercial Group and Announces Revolving Finance From Prospect Solar

WASHINGTON, DC--(Marketwire - December 20, 2010) -  Distributed Sun LLC (D-SUN), a DC-based solar project developer, owner and operator, revealed today the formation of its Fast-track Commercial Group, with new partners and new construction finance, as the company prepares to announce both small and large project roll-outs. D-SUN and Prospect Solar, a division of Prospect Waterproofing, have formed a partnership that fast-tracks the deployment and financing of the company's small projects pipeline. Beginning with $4 million in engineering, procurement and construction finance, the deal contemplates project types that will revolve capacity four times in 2011. 

By aligning finance facilities and EPC partners to project size, the company substantially increases its capacity for project construction. Where D-SUN will commission four new commercial solar facilities in three states in December, the new operational structure will support simultaneous construction at ten or more sites in up to six states by the end of the next quarter, and increasing thereafter. 

"We continue to implement and prove our strategy to build one of the most scalable, distributed and profitable platforms within our segment," says Chase Weir, CEO of Distributed Sun. "Our close partnership with Prospect Solar only accelerates this key stage of growth." The division of projects by type and size effectively separates assets, partners and finance sources. With high-return, diversified, and smaller sites unlocked as a group with Prospect in one project consortium, D-SUN will shortly announce the grouping of larger, $5-10 million individual projects into separate blocks of $25-50 million + master finance facilities. 

"Prospect Solar has chosen to align its solar initiatives with a company that is redefining the next generation of the developer-owner-operator model," says James Stamer, President of Prospect. "Distributed Sun's wide geographic reach and strong pipeline of rooftop sites is a compelling investment and partnership opportunity." 

Leading the next-generation of solar business and finance model innovation, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available. That means D-SUN's model is better for ratepayers, taxpayers, and the environment -- and for investors, who achieve better returns than the industry norm. Its first Solar Energy Investment Company (SEIC), sunONE, is fully commissioned and serving power to Mid-Atlantic sites in 2010, and delivered nearly three times the industry average project yields.

DISTRIBUTED SUN
http://www.distributedsun.com/

D-SUN's SEICs
http://www.distributedsun.com/funds/sunone

PROSPECT SOLAR
http://www.pwcompany.com/

Contact Information

  • PR CONTACT
    For more information, please contact
    Nick Culver
    202-550-4047
    [nick][at]distributedsun.com