Recurrent Energy to develop 15 MW of solar projects

San Francisco, March 30, 2010 — Recurrent Energy, an independent power producer and a leading developer of solar power projects, agreed 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 will be completed by the summer of 2011.

Citigroup, an equity investor on a portion of the projects, was a key partner in structuring the agreements between Recurrent Energy and Kaiser Permanente.

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 1 GW of distributed-scale solar projects in development across North America and Europe.

 

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