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.
- Top 3 Reasons to Calculate Your Environmental Footprint
- Six Essential Steps to Drive Effective Energy Management
- Essential Guide to Lighting Retrofits and Upgrades
- Integrating sustainability into your ERM framework
- The Business Case for Corporate Sustainability Tools
- Alarms Management: The Future is Now
- NAEM Trends Report: Planning for a Sustainable Future
- 2014 Environmental Leader Product and Project Awards
- 2014 Insider Knowledge Report
- Sustainability Careers: Unlocking Hidden Employment Potential
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement