Kaiser Permanente to Buy All Power Generated From 16 Recurrent Energy Solar Power Systems
SAN FRANCISCO—(March 30, 2010)—Recurrent Energy, an independent power producer and a leading developer of solar power projects, today announced it has signed agreements with Kaiser Permanente to develop 15 MW of solar power systems at multiple locations across California. Recurrent Energy will build, own, and operate 16 solar power systems located across 15 Kaiser Permanente hospitals and office facilities.
“These 16 solar power systems reaffirm the demand for distributed-scale projects, which can be aggregated to generate a significant amount of power,” said Arno Harris, CEO of Recurrent Energy. “We have over 1 GW of distributed-scale projects in development across North America and Europe, and this project reinforces the role that commercial and industrial rooftops can play in distributed-scale solar power deployment.”
The 16 solar power systems will be implemented across the 15 sites through rooftop solar, ground mount solar, and elevated solar above existing ground-level parking spaces and garages. Several projects are underway and all sites are expected to be completed by the summer of 2011.
“Kaiser Permanente sees renewable and clean energy as a key part of our environmental and sustainability strategy,” said John Kouletsis, director of strategy, planning and design at Kaiser Permanente. “As a health care organization, we are concerned with the health of our patients and our communities.”
Citigroup, an equity investor on a portion of the projects, was a key partner in structuring the agreements between Recurrent Energy and Kaiser Permanente.
About Recurrent Energy
Recurrent Energy is an independent power producer and a leading developer of distributed solar projects for utilities and large energy users. Located in San Francisco, Recurrent Energy is helping to meet rising energy demand by developing a global portfolio of clean power plants located where they are needed most. The company has a pipeline of over 1GW of distributed-scale solar projects in development across North America and Europe. For more information on Recurrent Energy and distributed solar power, please visit www.recurrentenergy.com
# # #
Cate Powers
Media Contacts:
Bite Communications for Recurrent Energy
970-846-3857
Cate.powers@bitecommunications.com
