SECAUCUS, N.J., March 5, 2013 /PRNewswire/ -- Panasonic Eco
Solutions Energy Management North America and Pristine Sun have
aligned to begin the first phase of a portfolio build-out of solar
PV farms in California over the
next 24 months. 50MW of solar power will be connected to the
grid and sold to PG&E, which is enough to power approximately
50,000 homes. Together Panasonic and Pristine Sun are the leading
integrators in the PG&E Feed-in Tariff program, setting a model
that is scalable as both companies continue to entrench themselves
as leaders in the U.S. utility solar market.
"The partnership with Pristine Sun provides Panasonic the
ability to further present itself as a leading integrator of solar
solutions within the ever-evolving U.S. solar market. This 50 MW
portfolio will allow Panasonic to showcase its ability to construct
high quality solar energy systems and to present its new 12kW
dual-axis tracker to the market. Our technology provides a more
robust return on investment to project owners based on the
high-quality, low maintenance, low cost strategy that has been
utilized in engineering this new and evolutionary product that
tracks the sun all day. With this, Panasonic can successfully state
that this is the industry's first Tier 1 tracker backed by the
largest balance sheet in solar today," said Koshi Terakawa, President of Panasonic Eco
Solutions Energy Management North America.
"At Pristine Sun, we believe working together with the
right partners is paramount to our success. We are dedicated
to delivering quality, efficient, high yield, renewable energy
based power plants to the communities we serve. With the
Panasonic commitment to Pristine Sun and this portfolio,
we feel we have found the synergy, expertise and stability needed
to deliver. This partnership, combined with the utilization
of Panasonic's dual-axis tracker, provides us with the vital
ingredients Pristine Sun and our investors demand --
innovation, reliable performance, strong returns and the solid
backing to insure long-term operation and success. The
Panasonic Eco Solutions partnership mirrors Pristine Sun's
commitment to sustainable business, the environment and a future
powered by renewable energy," said Jason
Jackson, COO of Pristine Sun, LLC.
"We're honored to be working with Panasonic, one of the most
respected and largest companies in the world. With our large
portfolio of hundreds of small utility projects, we've learned that
it's imperative to select a bankable partner like Panasonic to
provide turnkey, standardized solutions. This partnership is
already accelerating – and reducing the brain damage of – the most
important element of the solar industry: project financing," adds
CEO Troy Helming.
Panasonic brings unrivaled engineering and building capabilities
to the solar projects while operating and maintaining the
facilities over their 20 year life. Panasonic's world class
operation and maintenance standards will guarantee the power
production of the solar energy systems which helps bring further
comfort to U.S. consumer market in knowing that solar energy is a
sustainable, cost effective and renewable electricity source that
everyone can enjoy.
About Panasonic Eco Solutions Energy Management North
America
Panasonic Eco Solutions Energy Management North
America is a division of Panasonic North America, the principal
North American subsidiary of Panasonic Corporation (NYSE: PC). Eco
Solutions develops and provides customized and integrated
technology-based systems solutions, including the design,
implementation and financing of renewable energy and energy
efficiency projects, for customers in a number of industries
including utility, industrial, sports, entertainment and education
among others, in both the U.S. and Canada. Panasonic has
pledged to practice prudent, sustainable use of the earth's natural
resources and protect our environment through the company's Eco
Ideas programs. The company is committed to becoming the
electronics industry's leader in green innovation by its
one-hundredth anniversary in 2018. In the 2012 Interbrand Annual
Best Global Green Brands ranking, the Panasonic brand jumped four
spots to number six:
http://www.interbrand.com/en/best-global-brands/Best-Global-Green-Brands/2012-Report.aspx
About Pristine Sun, LLC - Pristine Sun, the leading
developer of small utility scale projects in California, is a professional full service
renewable energy company with a goal to become one of the most
respected solar developers in America. Pristine Sun's core
management team has an average of 10-16 years of experience each in
the development and finance of solar and wind projects with a
combined total of over $2
billion. Pristine Sun, originally backed by a
$24 billion private equity fund, has
a 2 GW solar pipeline with 750 MW of projects under active
development. Headquartered in San
Francisco, CA. Pristine's business model is
simple: we are proficient at acquiring site leases and 20 year
Power Purchase Agreements for financeable solar and wind Utility
and Behind the Meter projects. We then develop the sites,
underwrite, procure financing, construct and operate these low risk
projects.
Pristine Sun: developing $1
Billion of solar assets by 2015.
For more information, visit www.pristinesun.com
Editorial Contacts:
Aaron
Fowles (Panasonic) 619-661-2223
aaron.fowles@us.panasonic.com
Business Contacts:
Kevin
White (Panasonic) 408-516-7476.
kevin.white@us.panasonic.com
Eric Chung (Pristine Sun)
415-848-8154 eric.chung@pristinesun.com
SOURCE Pristine Sun, LLC