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June
26, 2008
San
Francisco, CA, USA: MMA Renewable Ventures and Wells Fargo Announce
Clean Energy Project
MMA
Renewable Ventures, LLC, and Wells Fargo & Company have announced
a new solar energy system in San Francisco that is providing clean,
renewable power to the University of California at San Francisco
(UCSF)'s Mission Bay campus. MMA Renewable Ventures owns and operates
the 250-kilowatt (kW) system through a long-term Power Purchase
Agreement (PPA) with UCSF.
San
Francisco (UCSF)'s Mission Bay Roof Top Solar System
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MMA
Renewable Ventures arranges equity investment for projects through
its Solar Fund III, a financing commitment with Wells Fargo to
fund 10-15 MW of solar energy projects nationwide. "UCSF has demonstrated
a deep-seated commitment to environmental sustainability throughout
the growth of its new Mission Bay campus," said Matt Cheney, CEO
of MMA Renewable Ventures.
"Through
the long term PPA arrangement, the university is able to go solar
without the upfront installation cost or ongoing maintenance expenses,
allowing UCSF to direct its valuable resources to education and
critical research rather than a new solar energy system."
Added
Wells Fargo's Director of Environmental Finance, Barry Neal, "Wells
Fargo is dedicated to aligning renewable energy with real economic
opportunity in ways that benefit our customers, community, shareholders
and the environment."
Chevron
Energy Solutions, a Chevron subsidiary, designed and installed
the system, which incorporates two distinct solar energy technologies
to deliver clean, reliable power:
Sharp(R)
solar modules are installed on the roof of Genentech Hall and
atop the carports of the Third Street parking garage,
and
UNI-SOLAR(R) thin film building integrated photovoltaic (BIPV)
laminates are mounted vertically on the garage in a representation
of a DNA structure. The system is expected to generate 350,000
kilowatt-hours (kWh) of clean power annually, preventing nearly
470,000 pounds of carbon dioxide emissions each year.
Further details about: Chevron
Energy Solutions and Sharp
Electronics and Uni-Solar
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