Constellation Energy (NYSE: CEG) and Denver-based Oak Leaf
Energy Partners announced today the development of a new 4.4
megawatt solar installation at Denver International Airport (DIA).
Constellation Energy will finance, own and operate the solar
installation and DIA will purchase the electricity produced by the
system from Constellation Energy over a 20-year period.
Intermountain Electric (IME) plans to begin construction of the
project—the largest customer-sited solar photovoltaic installation
in Colorado—in the fall of 2010 with completion expected by early
2011. This is the third large scale solar project for DIA, with the
airport having commissioned a 2 MW installation in 2008 and a 1.6
MW facility commissioned in early 2010, both installed and managed
by Intermountain Electric. Yingli Green Energy (NYSE: YGE) will
supply the photovoltaic panels for the project.
“This project marks the third solar array to be constructed at
Denver International Airport and furthers our commitment to
environmental responsibility,” said Kim Day, aviation manager for
DIA. “Denver’s airport has a widespread reputation as a ‘green’
airport. Our partnership with Oak Leaf Energy, Constellation Energy
and Intermountain Electric not only expands our sustainability
efforts, but is a great example of public-private partnerships
advancing the ‘green economy.”
“Denver International Airport serves as a model of
sustainability and Constellation Energy is very pleased to work
with Oak Leaf Energy, IME and Yingli Solar to further expand the
airport’s commitment to clean, renewable energy,” said Michael
Smith, senior vice president of green initiatives for Constellation
Energy’s retail business. “Customer-sited solar is a rapidly
growing segment of the renewable energy industry as organizations
realize the financial and sustainability benefits of systems like
this. This agreement is the result of Constellation Energy’s
ability to use innovative financing structures to develop projects
combining federal, state, city and private corporate funding.”
Structuring solar projects as power purchase agreements (PPAs)
creates an attractive business model that involves no upfront costs
for customers and provides them with fixed power costs over a long
term.
“In spite of the volatility of the capital markets, we were able
to structure a competitive set of economics for our site host as
well as our investors,” said Oak Leaf founder John Hereford. “We
were able to accomplish this because of the experience and
creativity of our partners at Intermountain Electric, Constellation
Energy and DIA.”
The system is expected to supply approximately 7,000
megawatt-hours of electricity to DIA each year, utilizing
approximately 19,000 Yingli Solar photovoltaic panels. Generating
the same amount of electricity that will be produced by the new
solar installation using non-renewable sources would result in the
release of more than 5,000 metric tons of carbon dioxide.
“We are pleased to have been selected as the premier module
supplier for a project of this magnitude, particularly coming from
such a roster of experienced partners,” said Robert Petrina,
managing director of Yingli Green Energy Americas. “We look forward
to working with the team to support Denver International Airport’s
goals to secure power from renewable sources.”
Constellation Energy currently has approximately 35 megawatts of
on-site solar projects completed or under construction throughout
the U.S. and is seeking new solar customers for installations of
500 kilowatts or larger. Commercial customers, universities, school
systems, hospitals and government agencies interested in developing
solar projects can contact Constellation Energy at
Sustainable-Solutions@constellation.com or 1-877-427-2005.
About Denver International Airport
Denver International Airport is the world’s 10th-busiest airport
and the fifth-busiest airport in the United States. With 50 million
passengers traveling through the airport each year, DIA is one of
the busiest airline hubs in the world’s largest aviation market.
DIA is the primary economic engine of the state of Colorado,
generating more than $22 billion for the region annually. For more
information, visit www.flydenver.com.
About Oak Leaf Energy Partners
Oak Leaf Energy Partners is a full service turnkey developer of
solar PV plants. The firm was started in 2006 and has been among
the most active solar developers in Colorado, with over 30 mw of
projects completed to date. Oak Leaf has developed and financed
solar projects in Colorado (Belmar, DIA, Denver Public Schools,
Colorado Convention Center), New York, New Jersey, PA and Ohio.
About Intermountain Electric
Intermountain Electric, Inc., (www.imelect.com) a Colorado
corporation, has been serving the state of Colorado for over 63
years and has established itself as a premier electrical
contractor. From commercial and industrial to sustainable energy
systems, IME offers complete project solutions. With a vast array
of resources, IME provides our customers with a trusted avenue for
all electrical construction needs. IME builds solar projects in
conjunction with a sister company: Quanta Renewable Energy Service.
QRES and IME have collaborated on designs and installations of
numerous PV projects in Colorado and across the country.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which
markets its products under the brand "Yingli Solar", is a leading
solar energy company and one of the world's largest vertically
integrated photovoltaic manufacturers. Yingli Green Energy's
manufacturing covers the entire photovoltaic value chain, from the
production of polysilicon through ingot casting and wafering, to
solar cell production and module assembly. Currently, Yingli Green
Energy maintains a balanced production capacity of over 600 MW per
year. Two capacity expansion projects of 300 MW and 100 MW located
in Baoding and Hainan, respectively, have both started initial
production in early July 2010, and are expected to bring Yingli
Green Energy's total capacity to 1 GW by the end of the third
quarter of 2010. In addition, Yingli Green Energy's in-house
polysilicon plant, Fine Silicon, which has a designed annual
production capacity of 3,000 metric tons, has successfully started
commercial operation in early August 2010. Yingli Green Energy
distributes its photovoltaic modules to a wide range of markets,
including Germany, Spain, Italy, Greece, France, South Korea, China
and the United States. Headquartered in Baoding, China, Yingli
Green Energy has more than 7,000 employees and more than 10
subsidiaries and branch offices worldwide. Yingli Green Energy is
publicly listed on the New York Stock Exchange (NYSE: YGE). For
more information, please visit http://www.yinglisolar.com.
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading
supplier of energy products and services to wholesale and retail
electric and natural gas customers. It owns a diversified fleet of
generating units located in the United States and Canada, totaling
approximately 9,000 megawatts of generating capacity, and is among
the leaders pursuing the development of new nuclear plants in the
United States. The company delivers electricity and natural gas
through the Baltimore Gas and Electric Company (BGE), its regulated
utility in Central Maryland. A FORTUNE 500 company headquartered in
Baltimore, Constellation Energy had revenues of $15.6 billion in
2009.
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