Tioga Energy completes 4.4 MW of solar systems in California

Oct 19, 2012 - US solar power retailer Tioga Energy today announced the completion of 4.4 MW of solar power systems for the Hemet Unified School District in California.

The project, which consists of 17 solar canopies providing shade for about 1,400 cars and nine playgrounds, was developed by Tioga, which will also operate and maintain the installations. The company will sell the power generated to the school district under a 20-year power purchase agreement. The arrangement will allow the district to save USD 300,000 (EUR 230,000) in utility costs per year, the statement says.

These are the first systems that Tioga has developed under a master financing agreement with De Lage Landen, subsidiary of Dutch Rabobank Group that provides asset-based financing. US bank Wells Fargo & Co (NYSE:WFC) also took part in the project, acting as a construction lender and tax equity investor and complementing De Lage Landen's tax equity investment. US technology and industrial group Johnson Controls Inc (NYSE:JCI) provided the engineering, procurement and construction (EPC) services for the installations.

(USD 1.0 = EUR 0.766)

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