Wells Fargo Invests $100 Million in Distributed Solar Projects
Wells Fargo subsidiaries plan to invest more than $100 million of tax equity financing in 2013 and 2014 combined to fund US solar photovoltaic distributed generation power projects developed by SunEdison.
These new investments build on the relationship that first began between Wells Fargo and SunEdison in 2007. Since then, Wells Fargo has provided more than $950 million of tax equity and construction financing for more than 200 utility and distributed generation solar projects developed by SunEdison. The projects are located in 13 US states and in Puerto Rico.
Under the power purchase agreement (PPA) model, SunEdison builds, manages and operates the solar systems while its customers buy the energy produced for a fixed rate for a term of approximately 20 years. This allows customers who want to install solar to avoid upfront costs typically associated with the projects.
The solar projects developed by SunEdison will help businesses and public entities better control their electricity costs, while expanding the use of renewable energy throughout the US.
- Planning for a Sustainable Future
- The Missing Puzzle Piece: Automated Utility Data Aggregation
- Choosing the Correct Emission Control Technology
- Financing Environmental Resiliency and a Low-Carbon Future with Green Bonds
- How the IoT is Reshaping Building Automation
- 10 Tactics of Successful Energy Managers
- 2015 Insider Knowledge
- Improve Occupant Comfort & Reduce Energy Costs Through Humidity Control
- 2013-2014 Winter Polar Vortex
- The Corporate Sustainability Professional's Guide to Better Data Management