SAN FRANCISCO, Oct. 29, 2014 –Ecoplexus, Inc. announced today that it has completed the construction of three solar projects providing affordable clean energy totaling 4.5 megawatts. Two of the three projects were brought online as a part of Xcel Energy’s Solar*Rewards Communities program and have signed long-term Renewable Energy Credit contracts with Xcel Energy as well as power purchase agreements with various state and municipal agencies, and local schools.
Two of the projects (2 megawatts and 500 kilowatts) are located in Sterling, including one at a Colorado Department of Corrections site. The third project (2 megawatts) is located in the City of Grand Junction. Under the community solar structure, multiple subscribers can purchase energy from a single solar PV facility located offsite, through long-term power purchase agreements. Subscribers receive a credit on their bill from Xcel for the value of the energy generated.
“These community solar projects provide our municipal agency and school customers with substantial savings vs. their current electricity rates while also providing a hedge against future rate increases,” said John Gorman, CEO of Ecoplexus. “We’re very pleased to play a role in providing clean, renewable energy at competitive rates, and these projects highlight Ecoplexus’ continued commitment to community solar in the U.S.”
Ecoplexus is a leader in community solar in the U.S., having successfully developed fifteen community or virtual net metering projects over the last three years. When fully operational, the three Colorado projects will provide clean energy for an average of 543 homes in Colorado and an annual reduction of 6,555 tons of carbon dioxide, which is equivalent to the reduction of 669,152 million gallons of gasoline consumed.
About Ecoplexus, Inc.
Ecoplexus develops and operates distributed generation solar PV projects for the wholesale and retail distributed generation markets in the U.S. and Japan via its wholly owned subsidiary Ecoplexus Japan KK. The Company has constructed and financed over 40 projects to date, representing over $100 million in project value. Customers include eight major utilities including PG&E, Duke, Progress, Xcel Energy, and Georgia Power and approximately 15 municipalities.
The Company’s project pipeline exceeds 500 MW, and represents approximately $1 Billion in project value, in the U.S. and Japan. The Company also provides operation and maintenance (O&M) services for investor/owners, including two Fortune 500 companies, for approximately 40 projects. For more information about Ecoplexus, please visit www.ecoplexus.com.