SOURCE: Distributed Sun

Distributed Sun

October 27, 2011 13:23 ET

Distributed Sun and Buccini/Pollin Announce 29 Building Rooftop Solar Array

The Largest Commercial Buildings Solar Project in Delaware

WILMINGTON, DE--(Marketwire - Oct 27, 2011) - Distributed Sun LLC (D-SUN), a DC-based, solar commercial developer and interstate distributed power-producer, today announced it has partnered with The Buccini-Pollin Group to develop and operate solar facilities on the rooftops of up to 29 buildings in the Concord and Foulkstone Plaza office parks in Wilmington, Delaware. The two adjacent building clusters can support an estimated 1.5 MW of installed solar capacity, or 1.8 Gigawatt-hours of annual electricity. The project has been optimally sized to maximize addressable space atop each building, with a phased build-out uniquely suited to the renewable portfolio standard targets within the state. Under the agreement terms and depending upon the actual future pace of conventional electricity rate increases, combined utility savings may reach as much as $2.7 million over the 20 year power purchase agreement, and more than $12 million over the useful life of the solar facilities.

Using an estimated 6,002 high-efficiency photovoltaic panels, the environmental attributes of the project over the useful lifetimes of the planned solar power plants would reduce CO� emissions by approximately 102 million pounds, plant over 50,000 trees, or remove nearly 10,000 cars from the roads. "This is an important project for us as we step forward to answer Delaware's call for environmental stewardship, to create local jobs, and embrace clean and renewable sources of energy," says Chris Buccini, principal of The Buccini-Pollin Group. "We have decided to redouble our commitment to Distributed Sun and on-site power generation with this project, affirming our long-term and portfolio-wide vision for a clean economy and to the state's regional and national leadership on energy policy."

Distributed Sun will finance the distributed buildings project as part of sunTHREE, its third Solar Energy Investment Company. sunONE achieved profitability in June of this year, and will return 112% of at-risk equity by the end of 2011, less than two years after initial funding. sunTWO is under construction now. sunTHREE will inaugurate the official launch of D-SUN's new underwriting criteria -- TruSolar™ -- distributing investment risk across three state policy jurisdictions, four or more utilities, and up to ten host customers in Delaware, Maryland and Washington, DC. Concord/Foulkstone will be bundled with another site in Delaware, five targeted sites in Maryland and several office buildings in the District of Columbia -- delivering steady, low-risk returns to the funds socially responsible investors. "Our proprietary risk mitigation models widely distribute performance, site and counterparty factors to minimize investment exposure to any one state, host or project," says Rafael Alfonzo, co-founder and COO. "From selecting projects with our newly adopted Acquiris rules to banking them with our tested, proven TruSolar checklist, these powerful tools help us navigate toward opportunities while understanding limitations in today's solar marketplace."

D-SUN selects projects with a long-term outlook focused on maximizing ratepayer savings and investor yields. By building its models around the bottom line results of its partners instead of immediate-term development profits, the company uniquely positions itself for long-term value creation and market growth -- aligning its interests with customers and capital and differentiating its services from marketplace peers.

ABOUT D-SUN (click here)
ABOUT The BPG Group (click here)
Concord & Foulkstone Plaza (click here)

Contact Information

  • For more information, please contact
    Thomas Polzin
    202-558-4888
    Email Contact

Webosphere

Keyword Cloud

View Website