Photon Finance to develop solar power systems for US Navy in Hawaii
Sep 8, 2011 - US solar system developer Photon Finance LLC yesterday said it had been contracted to develop solar power systems for the US Navy in Hawaii along with two more companies under a deal totalling USD 500 million (EUR 357.5m).
Photon Finance, Island Pacific Energy LLC and Pacific Energy Solutions LLC have been selected among 13 bidders in Naval Facilities Engineering Command Pacific's request for proposals to design, build, own, operate and maintain solar power systems on Navy rooftops, parking structures and vacant land parcels.
The projects, which will be deployed on 11 naval facilities, are expected to be initiated within the next 12 months and completed by August 2016.
The Navy will buy the electricity from the systems under 20-year power purchase agreements (PPA) in a bid to help its goal of securing 50% of its energy consumption from renewables by 2020.