Renewable Ventures to Fund up to $100 Million of Solar Electric Power Plan

[jpak]

http://www.solarbuzz.com/News/NewsNACO398.htm

Renewable Ventures, LLC has announced that, in partnership with its institutional investors, it is ready to fund $100 million of solar energy and other renewable energy projects nationwide.

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"Although solar energy is soaring in popularity, the upfront cost of installing a system is still a major obstacle for potential customers. Our financing solutions remove that economic barrier of entry, giving electricity consumers easy access to stable power rates and helping solar developers make the sale," said Matt Cheney, CEO of Renewable Ventures. "Just like car leases and home loans make those products accessible to consumers, the advent of third-party financing in this sector moves clean energy into the mainstream."

Renewable Ventures' says its third-party finance model presents an ideal solar energy solution for organizations with large facilities and substantial electricity needs including, schools, factories, business parks, office buildings, wineries, bottlers, chilled warehouses, airports, and municipal sites.

Under the third-party finance model, Renewable Ventures owns, operates, and maintains each generation facility and sells the power to the site host under the terms of a power purchase agreement (PPA). Leveraging economic incentives and deep industry knowledge, Renewable Ventures can optimize renewable energy projects to deliver power at rates that are often at or below current brown power utility rates.

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[ladjf]

1. Cheaper and better solar collectors are coming on line in

2006. Soon the cost per watt will be equal or cheaper than fossil fuel produced electricity. At the same time wind and tidal generations is expanding exponentially. The U.S. is lagging behind the leaders by a wide margin.