March 24th, 2009
From Green Right Now Reports
San Francisco-based Wells Fargo & Company announced today that it has financed 125 commercial-scale solar photovoltaic projects since late 2007. The bank said the projects are in 10 states total 43 megawatts of capacity — enough to power the equivalent of 6,000 homes.
One recent project was a 450-kilowatt system, developed, installed and operated by SunEdison, on a Staples’ distribution center in southern California. The project’s 1,960 solar panels cover most of the building’s 330,000 square foot roof.
“We’re able to purchase solar energy generated on our rooftop at a rate below the cost of electricity from the grid,” Mark Buckley, VP of Environmental Affairs at Staples, Inc., said in a statement. “This reduces our operating costs and helps the environment.”
Wells Fargo said it provided $250 million in equity capital to solar photovoltaic projects developed by solar energy providers SunEdison and MMA Renewable Ventures.
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