Wells Fargo Joins Origis Energy USA to Expand Clean Energy Supply for Florida
August 13 2018 - 12:12PM
Business Wire
52-MWac FL Solar 5 project to produce low-cost, renewable
electricity for Reedy Creek Improvement District
Wells Fargo (NYSE: WFC) announced it has committed the
capital in construction debt, as well as the tax-equity funding of
$35 million for the new solar generation facility, known as FL
Solar 5 in Orange County, Florida. This solar facility will
include half a million solar panels and will also reduce greenhouse
gas emissions by more than 57,000 tons per year. That’s the annual
equivalent of removing 9,300 automobiles from the roads.
Origis Energy USA, a Miami-based solar energy company that
delivers custom clean energy solutions for utility, commercial, and
public-sector clients, developed the solar project and is providing
the balance of the project’s capital as well as acting as the solar
power plant’s engineering, procurement and construction
provider.
“We are pleased to partner with Wells Fargo on this significant
renewable energy project,” said Samir Verstyn, chief investment
officer of Origis Energy USA. “Our team is focused on delivering
superior customer service with sustainable energy solutions such as
this one.”
Scheduled to be fully operational in December 2018, FL Solar 5
will produce and transmit low-cost, renewable electricity to be
purchased by Reedy Creek Improvement District of Orange
County, Florida.
“Wells Fargo is proud to be a part of impactful projects like FL
Solar 5 that help our communities accelerate the transition to a
lower carbon economy,” said Alok Garg of Wells Fargo Independent
Power & Infrastructure group, a part of the Wells Fargo Energy
Group. “We value our relationship with Origis Energy, a company
that is in the forefront of creating a greener energy future.”
For the past 13 years, Wells Fargo has been a significant
contributor to the advancement of clean energy in the U.S., with
financing and tax equity investments energizing U.S. wind and
solar. The bank has funded or committed to fund more than $6
billion in wind and solar projects throughout the U.S. Since 2012,
Wells Fargo has invested and financed more than $70 billion in
renewable energy, clean technology, “greener” buildings,
sustainable agriculture and other environmentally sustainable
businesses. In addition, Wells Fargo recently pledged to provide
$200 billion in financing to sustainable businesses and projects by
2030, with more than 50 percent focused on clean technology and
renewable energy transactions that directly support the transition
to a low-carbon economy.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 8,050 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 38
countries and territories to support customers who conduct business
in the global economy. With approximately 265,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
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Media ContactJessica Ong, 1-212-214-8242@JessOngWF
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