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Pacific Power Management expands its Power Purchase Agreement Program
Pacific Power Management, LLC, announced that they have secured financing for their Power Purchase Agreements (PPA). PPM will use this financing for its own pipeline of projects. PPM has also expanded their PPA program to help facilitate funding for solar projects developed by other system integrators.
PPM has recently completed the development of 2.4 MW at 4 different power plants which includes Sierra Aluminum Company, Advanced Metal Finishing, Ford Motor Company and Far West Rice Mill. In addition PPM has secured other power plant projects that total over 3.5 MW, including Constellation Wines U.S., Port of Sacramento, Sunset Moulding, and Del Oro High School. By summer of 2009, PPM will have nearly 6 MW of completed solar power plants within their PPA portfolio. "Our ability to finance these solar power plants and the completion of these projects enables us to secure a steady pipeline of distributed solar power plants throughout California. This solidifies our commitment to provide clean energy for many years and to continually build strong relationships with our host customers," said Kelly McMahon, Director of Sales for Pacific Power Management. Pacific Power Management’s PPA program allows clients to buy solar power directly from PPM with no capital investment. Our power plants are developed to generate electricity over a 30 year system life and is designed to be used in large-scale commercial applications, typically 500 kW or larger.
PPM simplifies the entire process of buying solar power with a long-term energy financing solution and comprehensive project and facility management. The host customer can buy power at a lower rate then from the utility company, have immediate savings from day 1 and have no upfront costs of owning the system or maintenance. Mark Frederick, Managing Partner of PPM stated, “Our business strategy is to build a strong portfolio of power plant projects with a focus on the California and Hawaii market. We are continuing to expand our project pipeline due to our successful financing and PPA structure.” To help facilitate the expansion of our PPA program, Luke A. Eckblad has recently joined the PPM team as Treasurer. He is responsible for managing institutional relationships. Luke has over 12 years of experience in the capital markets advising emerging private and public companies in the areas of corporate finance. He has diverse experience in corporate finance and research departments of several investment banking firms in New York City.
PPM will be having a media event to celebrate the completion of their most recent power plant on April 22.