Distributed Sun

Washington Gas Energy Systems Offers Support for Cornell/D-SUN NYC Tech Campus Proposal

Organizations Agree to Co-develop and Fund Distributed Sun’s Renewable Energy Solutions if Cornell Wins Bid

OCTOBER | 2011, New York, NY – Distributed Sun LLC (D-SUN), a Washington, DC based solar commercial developer, interstate distributed power-producer, and Solar Energy Investment Company (SEIC) manager, and Washington Gas Energy Systems, a wholly owned subsidiary of WGL Holdings, Inc., today announced plans to co-develop and finance proposed renewable energy solutions in Cornell University’s bid to win the NYC Tech Campus contract on Roosevelt Island.  The solar, geothermal and fuel cell power source solutions, proposed for the landmark campus, will generate an estimated 9 gigawatt-hours of electricity per year.  Guided by Cornell’s energy vision, and strengthened by Distributed Sun’s proprietary underwriting and finance structures, Washington Gas Energy Systems steps forward with funding support to bolster the proposals.

“Should the proposal win, this would be an exceptional fit and in line with our commitment to have a diversified portfolio of clean energy solutions,” says Gautam Chandra, Vice President of Strategy, Business Development and Non-Utility Operations for WGL Holdings, Inc.  “The cost for solar deployments has declined nearly 75 percent over the past four years, and will continue declining this quarter and for the foreseeable future.  When combined with New York state’s policy support for renewable energy, Distributed Sun’s innovative finance structures, Cornell University’s commitment, and the Mayor’s and the city’s calls to action, we are very pleased to add our support for the proposals.”

If built today, the plan would deliver the largest net-zero building in the Eastern United States – among the top four largest buildings in the country.  Distributed Sun’s distributed solar arrays, at 1.8 megawatts, and geothermal system with 400 wells, 500 feet deep and spanning 4 acres, will showcase New York City’s biggest renewable power sources of their type. Together with 22,500 annual MMBtus of natural gas provided by Washington Gas Energy Systems fuel cells, these energy solutions will reduce grid electricity consumption by as much as 75 percent and generate cleaner power with approximately 50 percent lower greenhouse gas emissions, compared to a similarly sized, traditional campus that meets today’s energy code.     

“The commitment from Washington Gas Energy Systems underscores Cornell University’s amazing and tireless preparations to deliver on its proposals to the City of New York,” says Jeff Weiss, Managing Director of Distributed Sun’s SEICs.

When announcing New York City’s plans to create an applied sciences university to rival Silicon Valley, Mayor Bloomberg stressed the importance of new company formation and job creation.  Cornell’s campus design visibly embodies Bloomberg’s vision.  Jobs are being created by companies like Washington Gas Energy Systems and Distributed Sun in the U.S. solar industry 10 times faster than the national average (Solar Foundation), overtaking U.S. steel production by total number of jobs in the first quarter of 2011 (U.S. Bureau of Labor Statistics).  Also, renewable generation outpaced U.S. nuclear power production by 17 percent for the first time ever during the same period (U.S. Energy Information Agency). 

ABOUT D-SUN (click here)

ABOUT Cornell (click here)   Visual Details of Proposed Plan (click here)

ABOUT WGL Holdings, Inc. and Washington Gas Energy Systems Headquartered in Washington, D.C., WGL Holdings has three operating segments: (i) the regulated utility segment, which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity and (iii) the design-build energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of design-build energy efficiency solutions to government and commercial clients. Additional information about WGL Holdings is available on its website, wglholdings.com. Go to washingtongas.com for more information about Washington Gas Light Company.

PR CONTACT - For more information, please contact Dan Schneider at 202-706-6172, or daniel [at] distributedsun [dot] com.

Distributed Sun and Buccini/Pollin Announce 29 Building Rooftop Solar Array

The Largest Commercial Buildings Solar Project in Delaware

OCTOBER | 2011, Wilmington, DE –  Distributed Sun LLC (D-SUN), a DC-based, solar commercial developer and interstate distributed power-producer, today announced it has partnered with The Buccini-Pollin Group to develop and operate solar facilities on the rooftops of up to 29 buildings in the Concord and Foulkstone Plaza office parks in Wilmington, Delaware.  The two adjacent building clusters can support an estimated 1.5 MW of installed solar capacity, or 1.8 Gigawatt-hours of annual electricity.  The project has been optimally sized to maximize addressable space atop each building, with a phased build-out uniquely suited to the renewable portfolio standard targets within the state.  Under the agreement terms and depending upon the actual future pace of conventional electricity rate increases, combined utility savings may reach as much as $2.7 million over the 20 year power purchase agreement, and more than $12 million over the useful life of the solar facilities.

Using an estimated 6,002 high-efficiency photovoltaic panels, the environmental attributes of the project over the useful lifetimes of the planned solar power plants would reduce CO₂ emissions by approximately 102 million pounds, plant over 50,000 trees, or remove nearly 10,000 cars from the roads.  “This is an important project for us as we step forward to answer Delaware’s call for environmental stewardship, to create local jobs, and embrace clean and renewable sources of energy,” says Chris Buccini, principal of The Buccini-Pollin Group.  “We have decided to redouble our commitment to Distributed Sun and on-site power generation with this project, affirming our long-term and portfolio-wide vision for a clean economy and to the state’s regional and national leadership on energy policy.”

Distributed Sun will finance the distributed buildings project as part of sunTHREE, its third Solar Energy Investment Company.  sunONE achieved profitability in June of this year, and will return 112% of at-risk equity by the end of 2011, less than two years after initial funding.  sunTWO is under construction now.  sunTHREE will inaugurate the official launch of D-SUN’s new underwriting criteria – TruSolar™ – distributing investment risk across three state policy jurisdictions, four or more utilities, and up to ten host customers in Delaware, Maryland and Washington, DC.  Concord/Foulkstone will be bundled with another site in Delaware, five targeted sites in Maryland and several office buildings in the District of Columbia – delivering steady, low-risk returns to the funds socially responsible investors.  “Our proprietary risk mitigation models widely distribute performance, site and counterparty factors to minimize investment exposure to any one state, host or project,” says Rafael Alfonzo, co-founder and COO.  “From selecting projects with our newly adopted Acquiris rules to banking them with our tested, proven TruSolar checklist, these powerful tools help us navigate toward opportunities while understanding limitations in today’s solar marketplace.”

D-SUN selects projects with a long-term outlook focused on maximizing ratepayer savings and investor yields.  By building its models around the bottom line results of its partners instead of immediate-term development profits, the company uniquely positions itself for long-term value creation and market growth – aligning its interests with customers and capital and differentiating its services from marketplace peers. 

ABOUT D-SUN (click here)

ABOUT The BPG Group (click here)   Concord & Foulkstone Plaza (click here)

PR CONTACT - For more information, please contact Thomas Polzin at 202-558-4888, or thomas [at] distributedsun [dot] com.

Distributed Sun Partners with Cornell University on NYC Tech Campus

A Landmark Net-zero and Renewable Energy Initiative for New York City

OCTOBER | 2011, New York City, NY –  Distributed Sun LLC (D-SUN), a DC-based, solar commercial developer, interstate distributed power-producer and profitable Solar Energy Investment Company (SEIC) manager, today announced it has teamed with Cornell University to develop the proposal to New York City to finance, build and operate the on-site, renewable power solutions for the NYC Tech Campus on Roosevelt Island.  Generating a potential 9 Gigawatt-hours of electricity per year, the integrated solar, geothermal and fuel cell power sources promoted by Cornell’s pioneering energy vision, and proposed with D-SUN’s proprietary underwriting, integration and finance solutions, together raise the bar for sustainable campus design, construction and operations.  The proposed campus is “a living laboratory that brilliantly anticipates and integrates forward-thinking design and building technologies,” offers Kent Kleinman, Cornell’s Dean of Architecture, Art and Planning.

If built today, these renewable energy solutions would deliver the largest net-zero building in the Eastern United States – among the top four largest such buildings in the country.  The remainder of the campus is designed for LEED Silver certification, and will be highly energy efficient.  D-SUN’s distributed solar arrays, at 1.8 MW, and geothermal system, with 400 wells at 500 foot depth across 4 acres, will each showcase NYC’s biggest installed renewable power sources of their types. Together with 22,500 annual MMBtus from natural gas powered fuel cells, these complementary and proven energy solutions will reduce conventional grid electricity consumption by as much as 75%, and generate cleaner power with approximately 50% lower greenhouse gas emissions, compared to a similarly sized “traditional” campus that meets today’s energy code.     

In announcing New York City’s plans to create an applied sciences university to rival Silicon Valley, Mayor Bloomberg stressed the importance of new company formation and job creation.  Cornell’s campus design visibly embodies these central aspirations.  Jobs are being created in the US solar industry 10 times faster than the national average (Solar Foundation), overtaking US steel production by total number of jobs in the first quarter of 2011 (US Bureau of Labor Statistics).  Similarly, renewable generation outpaced US nuclear power production (by 17%, or .19 quadrillion BTUs of energy) for the first time ever during the same period (US Energy Information Agency).  “The campus is pointed toward maximum solar output and minimum impact on the environment,” says Jeff Weiss, Managing Director of D-SUN’s SEICs.  “In solar parlance, Cornell’s architectural and energy teams have envisioned a truly optimal azimuth (the solar angle achieving maximum energy output) that boldly defines their mission and aligns this landmark precisely toward our nation’s shared science, energy, and economic futures.” 

D-SUN has proposed to fund all on-site power solutions with a proprietary finance structure that if implemented would reduce Cornell’s lifecycle power expenses by significant amounts versus prevailing power-purchase-agreement finance models. 

“We are thrilled and honored to assist Cornell University in their proposal to New York City,” says Chase Weir, CEO of D-SUN.  “This is a truly unique opportunity for the city to apply and demonstrate the vision of tomorrow’s renewable energy solutions at an applied sciences campus today.”

ABOUT D-SUN (click here)

ABOUT Cornell (click here)   Visual Details of Proposed Plan (click here)

PR CONTACT - For more information, please contact Dan Schneider at 202-706-6172, or daniel [at] distributedsun [dot] com.

Distributed Sun Announces the Distributed Solar Network™

Roll-up? No, thanks. Round-up? Yes, please!

August | 2011, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based, solar commercial developer, interstate distributed power-producer and profitable Solar Energy Investment Company (SEIC) manager, today announced the launch of the Distributed Solar Network™ (DSN).  An invitation-only, high Megawatt volume commercial solar program, the network initially targets Mid-Atlantic and Northeastern states.  Vested partners enjoy the advantages of low-cost of capital, contract-winning installed costs, bankable projects with established counterparties, and solar rates at substantial savings to the real avoided costs of electricity.  The Network is subscribed in pools of 25 MW increments with select developer, EPC, portfolio, materials, and finance partners and defines a repeatable rule-set that most commercial project origination and development lacks today.  

Tailored benefits include structured offerings aligned to membership types – ranging from rebates and on-site energy efficiency investments to steep additional solar rate discounts, upfront and residual cash flow sharing, and innovative economic participation.  Target memberships are 60% subscribed.  Qualified participants include regional installers with big box retail, industrial and municipal pipelines, inter-state real-estate portfolios with millions of square feet of addressable solar space, leaders in manufacturing, and institutional and strategic finance sources.

“The solar industry is increasingly overcrowded, fragmented and commoditized,” says Chase Weir, CEO of Distributed Sun.  “Consolidation is accelerating, but too much capital is chasing too few bankable projects.  The Distributed Solar Network™ answers this by lowering transaction costs, shortening project cycles and increasing project success rates.”  The Network delivers a proven, programmatic approach to data-driven decision-making that reaches across the entire value chain with underwriting standards and networked advantages.  Distributed Sun management describes the model as a timely solution to the growing volume of stalled projects and risky and underperforming acquisitions.

“Most viable paths to integrated scale are unattractive, uncertain, or out-of-reach for many serious market players,” adds Joan Hooke, Director of Development.  “The Network model from Distributed Sun effectively ‘rounds-up’ the best of vertical integration into an a la carte menu of vested benefits without requiring a change-of-control or redesigning business models.  We provide a program for qualifying market participants to adopt a scalable transaction vehicle.”  That vehicle sits atop eight proprietary analytical tools and process engineering that helps network members grow to scale and gives customers and investors genuine confidence.

In a marketplace where an increasing number of commercial projects fail, D-SUN has successfully completed all projects approved by its TruSolar℠ underwriting criteria.  The Distributed Solar Network™ shares this project selection and approval process with members, and helps them define their practices around operational excellence, and the question, “Would Distributed Sun bank this project?”

ABOUT D-SUN (click here)

PR CONTACT - For more information, please contact Tom Polzin at 202-558-4888, or [thomas][at]distributedsun.com. 

D-SUN Partners with Congressional Bank for Solar Finance

Long-Term Debt Facility Approved for sunONE Operational Solar Assets

August | 2011, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based, solar commercial project developer, distributed power-producer and Solar Energy Investment Company (SEIC) manager, announced today the debt refinancing of sunONE with Congressional Bank.  The long-term debt facility is secured by diversified, interstate and operational solar power-producing assets and their long-term power-purchase-agreement and solar renewable energy credit sale contracts. D-SUN’s unique investment vehicles pair equity with debt at about a 2-to-1 ratio within a partnership-flip structure, maximizing yield while maintaining strong debt coverage ratios.

“Our team has looked at many solar, renewable and clean business finance opportunities,” says John Lane, CEO of Congressional Bank.  “Distributed Sun’s business and cash flow models, and management team, stand out among them.  Our partnership with sunONE is the beginning of what we anticipate will be a very significant relationship, and serves as an announcement of our commitment to clean economy businesses.”

Distributed Sun and Congressional Bank have partnered to co-develop the finance structure for a commercial solar lease facility to be launched this Fall.

“We know many regional and national banks and have searched for the right solar lease and lending relationships,” says Jeff Weiss, co-founder and Managing Director at D-SUN.  “Congressional bank gets it, knows where capital investments and businesses are moving within our industry, and without, and has positioned itself for real long-term growth. We’re honored to count them among our most trusted partners.”

ABOUT CONGRESSIONAL BANK

PR CONTACT - For more information, please contact Tom Polzin at 202-558-4888, or .(JavaScript must be enabled to view this email address). 

D-SUN's Solar Energy Investment Company Profitable in 15 Months

sunONE Breaks Even in Q2, on Course for ~29% Return

August 8 | 2011, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based, commercial project developer, distributed power-producer and Solar Energy Investment Company (SEIC) manager, announced today that its inaugural SEIC, sunONE, achieved break-even on June 23, 2011, following initial investment capital calls during Q1 of 2010.  sunONE commissioned on-site, commercial solar facilities in Delaware, Maryland, New Jersey and Pennsylvania on building types ranging from data-center and office, to industrial and hotel – including the Hilton at BWI Airport.

“The management team at Distributed Sun has accomplished what few solar companies have,” says Jigar Shah, investor in Distributed Sun and sunONE, founder of SunEdison, and CEO of the Carbon War Room.  “They raised capital in about 10 weeks, captured site control in multiple states in even less time, built below their cost plan, delivered output above forecasts, and returned all of our equity investments exactly when they said they would.  And, they did this while pioneering new innovations in solar market and investment models.

D-SUN has demonstrated a solid performance track-record in sunONE.  Installed costs were lower by 14.5%, and operating expenses reduced by 5.3%, against its finance approved plan.  As a result of these project execution successes, D-SUN installed 23% additional capacity with no increase to the portfolio construction budget.

Further to cost management outperformance, sunONE systems are generating solar electricity well above estimates across the portfolio.   Says Cal Simmons, author, investor and serially successful business founder, “I’ve invested in dozens of companies over the years, and can count on one hand with room to spare the number of times a team has delivered exactly as promised across all performance criteria.  Distributed Sun is at the front of that count.”

“We said at formation our first year of operations would be the résumé that drives our reputation and next stage of growth, and we stand by it,” offers Chase Weir, CEO of Distributed Sun.  

D-SUN is currently constructing sunTWO facilities, including the 1.1 MW solar canopy at the Sheraton Meadowlands Hotel and Conference Center, and has secured multi-MW site control and solar power-purchase-agreements in several Mid-Atlantic states.  The company plans to announce its sunTHREE finance structure and details of its newly formed Distributed Solar Network™ this Fall.

ABOUT D-SUN (click here) 

ABOUT sunONE and OUR SEICs (click here)  

PR CONTACT - For more information, please contact Thomas Polzin: [thomas][at]distributedsun.com. 

Distributed Sun Announces TruSolar™

A Project Performance & Risk Rating System for Commercial Solar Finance

March 15 | 2011, Palm Springs, CA –  Distributed Sun LLC (D-SUN), a DC-based project developer and independent power producer, announced another innovation in solar finance today at Greentech Media’s Solar Summit.  D-SUN has developed TruSolar™ – an underwriting process that rigorously tests and identifies higher yield, lower risk solar investment opportunities.  The system works to reduce project failure before, during and after construction, and increases the bankability of the company’s solar pipeline. 

TruSolar™ is also designed to mitigate events of default and PPA revenue interruption from power off-takers with unrated – less than investment grade – credit.  By scoring project performance, site profile and counterparty risk criteria with sophisticated rating tools, D-SUN provides a framework to lower capital costs and support trade credit insurance for power-purchase-agreement revenues.  Until now, virtually all PPA financing within the commercial segment has been with rated credit counterparties – which represent only a small fraction of commercial real-estate owner and tenant sites.

“TruSolar™ is ultimately about risk assurance and insuring risk, and introduces a potential game-changer for us and the marketplace.  Overcoming cross-collateralization and investment grade counterparty limitations within the distributed generation segment opens a much larger addressable market opportunity, and solves to pace and scale like few other finance innovations can,” says Chase Weir, CEO of Distributed Sun.

While D-SUN has already solved the issue of counterparty risk through its Solar Energy Investment Company (SEIC) model, and its first SEIC, sunONE, it did so via portfolio diversification with the same investors within one investment structure distributed across four states.  With TruSolar™, the company looks to adjust solar finance risk one project at a time.

“This level of risk mitigation is expected to increase certainty of PPA cash flows and reduce the cost of capital for commercial project finance,” adds Jeff Weiss, Managing Director of D-SUN’s SEICs.  TruSolar™ targets 8 MW of initial test projects in 2011, and expansion of product scope in 2012. 

Leading the next-generation of solar business and finance model innovation, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  That means D-SUN’s model is better for ratepayers, taxpayers, and the environment – and for investors, who achieve better returns at lower risk than the industry norm.  Its first Solar Energy Investment Company (SEIC), sunONE, is fully commissioned and serving power to Mid-Atlantic sites in 2010, and delivered nearly three times the industry average project yields.

ABOUT D-SUN (click here)  

PR CONTACT - For more information, please contact Nick Culver at 202-550-4047, or [nick][at]distributedsun.com.

Finance & Transaction Veteran to Lead Distributed Sun Development

Company Adds Joan Hooke to Senior Management Team

February | 2011, Washington, DC – Distributed Sun LLC (D-SUN) , a DC-based project developer, owner, operator, and interstate solar utility, announced today the addition of Joan Hooke to its senior management team.  In her new role as Director of Development, Hooke will lead the continued growth and deployment of the company’s solar commercial pipeline, now exceeding 100 MW and expected to double under her leadership in 2011.

Ms. Hooke brings a 25 year track record in real-estate, development, finance, law, and investment management to the company – and the right combination of relationships, skills and experience for D-SUN’s strategic market focus.  Her past clients include private equity funds, regional and national developers and international investors.  Ms. Hooke has led key business units and platforms for industry leaders such as Trammell Crow and IKEA.

“Bringing Joan on board at this time signals our commitment to the success of sunTWO, our second Solar Energy Investment Company, that begins construction of its first three solar facilities in three Mid-Atlantic states this quarter,” says Chase Weir, CEO.  “Her steady leadership will be central to our continued development of innovative solutions – and best-practice transactions – that make solar a compelling opportunity for real estate owners and occupiers across all property types and geographies.”

Leading the next-generation of solar business and finance model innovation, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  That means D-SUN’s model is better for ratepayers, taxpayers, and the environment – and for investors, who achieve better returns than the industry norm.  Its first Solar Energy Investment Company (SEIC), sunONE, is fully commissioned and serving power to Mid-Atlantic sites in 2010, and delivered nearly three times the industry average project yields.

ABOUT D-SUN (click here) 

ABOUT Our SEICs (click here) 

MEDIA CONTACTS

For additional information about Distributed Sun or its Solar Energy Investment Companies (SEICs), please contact Nick Culver at two-zero-two-550-4047, or [nick][at]distributedsun.com. 

D-SUN to Build 1.1 MW Solar Carport in New Jersey

Signs PPA for Sheraton Meadowlands Hotel & Conference Center and Begins MW Scale Roll-out

December | 2010, East Rutherford, NJ –  Distributed Sun LLC (D-SUN), a DC-based solar project developer, owner and operator, announced today it has signed a 20 year, 1.1 Megawatt power-purchase-agreement (PPA) to generate solar electricity for the Sheraton Meadowlands Hotel & Conference Center.  In the first of several Megawatt-scale, commercial solar projects to be commissioned in 2011, D-SUN will construct and operate a solar powered carport facility in partnership with The Buccini/Pollin Group (BPG), the owner of the property, and Pollin/Miller Hospitality Strategies, Inc. (PMHS), the property manager.   The solar system will be owned by Distributed Sun’s Solar Energy Investment Company (SEIC), sunTWO, and combines clean, on-site power with architectural-grade, shaded parking and green power savings, generating over 1.2 Gigawatt hours of electric power per year, and more than 40 Gigawatt hours over its lifetime.  

“We are very excited to expand our partnership with The Buccini/Pollin Group,” says Jeff Weiss, Managing Director of Distributed Sun’s SEICs.  “This project marks another milestone in the relationship, demonstrates the company’s long-term view with – and commitment to – our trusted real-estate partners, and further proves the unique benefits of our replicable and scalable business model.”

D-SUN’s solar services to BPG and PMHS are widely considered to be much better for the environment than conventional energy – offsetting an estimated 75 million pounds of CO₂, or the equivalent of removing more than 6,500 cars from the road.   Solar power from D-SUN also costs the Sheraton less per kilowatt hour generated than the electricity it buys from the grid, and under contract terms that guarantee savings for PMHS will grow each year, compounding for 20 years. 

“We have made clear our commitment to having the cleanest, most energy efficient, and most efficiently run, properties in our industry,” says Dave Pollin.  “The partnership between PMHS and Distributed Sun at the Hilton BWI Airport, the Sheraton Meadowlands, and elsewhere reaffirms this promise to green our portfolio with best-practice solutions and partners that improve our bottom-line.”

As part of the agreement, Distributed Sun has agreed to a capital investment for renovation to the hotel parking lot.  In return, the PPA rate schedule adjusts the price per kWh paid on-site until the additional expense is recovered for sunTWO – at a reasonable capital cost to both partners.  Even with this incremental cost, the rate schedule can provide the Sheraton solar electricity savings versus the conventional alternative even before this cost is recovered.   “Pioneers and leaders in the commercial real-estate industry like Dave Pollin and Chris Buccini recognize that on-site renewable electricity is a game-changer,” offers Chase Weir, CEO of D-SUN.  “Combining capital improvements and increased property values with electricity savings on the one hand, and solar investment returns and a cleaner environment on the other, is a powerful and motivating combination for us and our partners.”

ABOUT D-SUN (click here) 
ABOUT sunTWO (click here) 
ABOUT PMHS (click here) 
ABOUT BPG (click here)

MEDIA CONTACTS

For additional information about Distributed Sun or sunONE, please contact Nick Culver at two-zero-two-550-4047, or [nick][at]distributedsun.com. 

Prospect Solar Provides Finance Revolver to Fast-track Projects

D-SUN Accelerates 2011 Project Calendar

December | 2010, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based solar project developer, owner and operator, revealed today the formation of its Fast-track Commercial Group, with new partners and new construction finance, as the company prepares to announce both small and large project roll-outs.  D-SUN and Prospect Solar, a division of Prospect Waterproofing, have formed a partnership that fast-tracks the deployment and financing of the company’s small projects pipeline.   Beginning with $4 million in engineering, procurement and construction finance, the deal contemplates project types that will revolve capacity four times in 2011.

By aligning finance facilities and EPC partners to project size, the company substantially increases its capacity for project construction.  Where D-SUN will commission four new commercial solar facilities in three states in December, the new operational structure will support simultaneous construction at ten or more sites in up to six states by the end of the next quarter, and increasing thereafter.

"We continue to implement and prove our strategy to build one of the most scalable, distributed and profitable platforms within our segment,” says Chase Weir, CEO of Distributed Sun.  “Our close partnership with Prospect Solar only accelerates this key stage of growth.”  The division of projects by type and size effectively separates assets, partners and finance sources.  With high-return, diversified, and smaller sites unlocked as a group with Prospect in one project consortium, D-SUN will shortly announce the grouping of larger, $5-10 million individual projects into separate blocks of $25-50 million + master finance facilities."

Prospect Solar has chosen to align its solar initiatives with a company that is redefining the next generation of the developer-owner-operator model,” says James Stamer, President of Prospect.  “Distributed Sun’s wide geographic reach and strong pipeline of rooftop sites is a compelling investment and partnership opportunity."

Leading the next-generation of solar business and finance model innovation, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  That means D-SUN’s model is better for ratepayers, taxpayers, and the environment – and for investors, who achieve better returns than the industry norm.  Its first Solar Energy Investment Company (SEIC), sunONE, is fully commissioned and serving power to Mid-Atlantic sites in 2010, and delivered nearly three times the industry average project yields.

ABOUT DISTRIBUTED SUN (click here)
ABOUT D-SUN’s SEICs (click here)
ABOUT PROSPECT SOLAR (click here)

PR CONTACT - For more information, please contact Nick Culver at two-zeo-two-550-4047, or [nick][at]distributedsun.com.

D-SUN Signs 20 MW Distributed Solar Agreement

sunTWO to Serve 25-100% of Commercial Customers' Electricity Needs

October | 2010, Los Angeles, CA –  Distributed Sun LLC (D-SUN), a DC-based solar project developer and operator, announced today at Solar Power International a 20 megawatt agreement to deliver commercial solar power services at sites throughout the Mid-Atlantic.  The new capacity – representing approximately $80 million of site construction in 2011 – will be financed by Distributed Sun’s Solar Energy Investment Company (SEIC), sunTWO.  Combining clean, on-site power with significant green power savings, the solar facilities will generate over 23 gigawatt hours in their first year of operations, and more than 900 gigawatt hours over their lifetimes.  

“Distributed Sun is one of the fastest moving and most innovative solar developers in the country,” says Jigar Shah, founder of SunEdison and CEO of Carbon War Room.  “They are at the top of my short list of those who are defining the next generation of development, are unsurpassed in their analytics-savvy, and have figured out how to scale distributed generation for high returns with low risks.”

D-SUN’s solar services are widely considered to be much better for the environment than conventional energy.  The newly announced clean energy facilities – to be developed in partnership with an undisclosed real-estate portfolio – are estimated to offset more than 1.4 billion pounds of CO₂, or the equivalent of planting nearly 450,000 trees.   Solar power from D-SUN also costs less per kilowatt hour generated than the conventional electricity from the grid, and under contract terms that guarantee savings will grow each year, compounding for 20 years.

“We are excited about expanding our service coverage and the strong, upward growth of our solar pipeline, contracted power, and commissioned capacity,” says Chase Weir, CEO of D-SUN.   Adding, “Distributed Sun intends to overachieve with sunTWO on and ahead of the pace demonstrated with sunONE.”

Leading the next-generation of solar business models and risk management practices, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  That means D-SUN’s model is better for ratepayers, taxpayers, and the environment – and for investors, who achieve better returns than the industry norm.  Its first SEIC, sunONE, is fully committed and currently serving power to Mid-Atlantic sites.  Its second SEIC, sunTWO, will expand services to Central and Northeastern states, and deploys 50 megawatts of solar to commercial and industrial buildings of all types with rooftop, carport and groundmount installations beginning this Fall, 2010.  sunTWO will serve 25-100% of its partners’ building power needs, and save them millions of dollars in electricity rate payments.  sunTWO anticipates the creation of several hundred new jobs over the next 18-24 months.

ABOUT DISTRIBUTED SUN (click here)  ABOUT D-SUN’s SEICs (click here)

PR CONTACT - For more information, please contact Nick Culver at 202-550-4047, or [nick][at]distributedsun.com. 

D-SUN Expands Solar Services to Delaware, New Jersey and Pennsylvania

sunONE Finances New Commercial, Retail & Industrial Projects for the Buccini/Pollin Group

September | 2010, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based solar project developer and services provider, will deliver solar power to Buccini/Pollin Group properties in Delaware, New Jersey and Pennsylvania this Fall.   The four systems under construction – financed by Distributed Sun’s Solar Energy Investment Company (SEIC), sunONE – combine clean, on-site power with green power savings, and will generate over 650 megawatt hours of electric power per year, and more than 25 gigawatt hours over their lifetimes.  

“We are honored to increase our solar energy investments and expand our services with the Buccini/Pollin Group (BPG),” says Chase Weir, CEO of D-SUN.   “Each of our new facilities with BPG commissions nominally more solar capacity per site while taking higher portions of building power consumption off the grid.”   

D-SUN’s solar services to BPG are widely considered to be much better for the environment than conventional energy.  The newly announced clean energy facilities are estimated to offset more than 20 million pounds of CO₂, or the equivalent of planting more than 10,000 trees.   Solar power from D-SUN also costs BPG less per kilowatt hour generated than the conventional electricity it buys from the grid, and under contract terms that guarantee savings will grow each year, compounding for 20 years.  These certain benefits contribute to the momentum behind D-SUN’s solar power and finance offerings, with service requests now surpassing 100 commercial sites in approximately 20 states. 

“The Buccini/Pollin Group is redoubling its commitment to clean energy and energy efficiency,” says Chris Buccini.  “Our partnership with Distributed Sun is a key component of our green portfolio strategy, and our dedication to good stewardship of the triple bottom-line – people, planet and profits.”

Leading the next-generation of solar business models and practices, D-SUN installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  D-SUN investors benefit too, achieving better returns than the industry norm.  Its first SEIC, sunONE, is fully committed and currently serving power to Mid-Atlantic sites.  Its second SEIC, sunTWO, will expand services to Central and Northeastern states, and deploys 50 megawatts of solar to commercial and industrial buildings of all types with rooftop, carport and groundmount installations beginning this Fall, 2010.  sunTWO will serve 25-100% of its partners’ building power needs, and save them millions of dollars in electricity rate payments.  sunTWO anticipates the creation of several hundred new jobs over the next 18-24 months.

ABOUT DISTRIBUTED SUN (click here)  ABOUT D-SUN’s SEICs (click here) ABOUT The Buccini/Pollin Group (click here)

PR CONTACT - For more information, please contact Nick Culver at 202-550-4047, or [nick][at]distributedsun.com. 

Solar Powered Data Center Outperforms Industry Benchmarks

sunONE's System Source Project Exceeds Revenue & Output Estimates by 14%

September | 2010, Washington, DC –  Distributed Sun LLC (D-SUN), a DC-based solar project developer and services provider, began serving solar power to System Source’s data center in Hunt Valley, Maryland, in May 2010.   Revenue-grade performance monitoring equipment, company data, third-party data, and three consecutive months of observed power generation confirm the system is outperforming revenue and output forecasts by 14-17%.  By every measure – industry performance standards, D-SUN’s financial forecasts, and after discounting to average irradiance (how much sun is shining) during a typical meteorological year – the solar array is besting all expectations.

The solar power plant, owned by D-SUN’s Solar Energy Investment Company (SEIC), sunONE, serves clean, on-site power and green power savings to data center operations at System Source.  The installation will deliver approximately 70 megawatt hours (MWh) of electric power per year, and 3 gigawatt hours (GWh) over its lifetime.

“We are thrilled to partner with System Source and achieve excellent solar performance at their facility,” says Chase Weir, CEO of D-SUN.  Adding, “the project came in under-budget, is serving more power than forecast, received a higher state grant award than offered when the project was initially approved, and will receive larger payments for each solar renewable energy credit generated because of increases mandated under Maryland’s revisions to solar policies after construction began.”

D-SUN’s solar services at System Source are estimated to reduce millions of pounds of CO₂ emissions from the atmosphere – the equivalent of removing several hundred cars from Maryland roads.  Under the terms of their solar power purchase agreement, D-SUN provides System Source with cost certainty for 20 years, hedging the risk of future electricity price increases with a rate schedule that forecasts substantial, compounding savings over time.

“We are proud to host Distributed Sun’s solar power plant on our rooftop,” says Bob Roswell.  “Our partnership with sunONE exceeded all expectations and is central to our commitment to clean, environmentally friendly, and cost-effective power solutions.”  As a result of project success led by D-SUN’s COO, Rafael Alfonzo, System Source requested generation capacity be doubled under sunTWO.

D-SUN is leading innovation in US solar project development and finance, offering highly competitive solar power discounts.  D-SUN project returns best industry norms, while advancing solar solutions that deliver more output per dollar of policy support than the national average. D-SUN’s second SEIC, sunTWO, will deploy 50 MW and serve 25-100% of its partners’ building power needs, saving customers millions of dollars in electricity rate payments.  sunTWO anticipates the creation of hundreds of new jobs over the next 18-24 months.

ABOUT DISTRIBUTED SUN (click here)  ABOUT D-SUN’s SEICs (click here) ABOUT System Source (click here)

PR CONTACT - For more information, please contact Nick Culver at 202-550-4047, or [nick][at]distributedsun.com. 

Distributed Sun Delivers Solar Power to Hilton Hotel BWI Airport

sunONE Commissions Another Commercial Solar Array

August | 2010, Washington, DC –  Distributed Sun LLC (D-Sun), a DC-based solar project developer and services provider, begins serving solar power to the Hilton Hotel BWI Airport – a PMHS property – in Maryland this month.   The system, owned by Distributed Sun’s Solar Energy Investment Company (SEIC), sunONE, combines clean, on-site power with green power savings, generating nearly 60 megawatt hours of electric power per year, and over 2 gigawatt hours over its lifetime. 

“We are honored to partner with the Buccini/Pollin Group and Pollin/Miller Hospitality Strategies for installations at the Hilton and throughout the Mid-Atlantic,” says Chase Weir, CEO of D-Sun.  “In this challenging economic climate, it’s really exciting to provide a service that creates jobs, delivers substantial savings to our partners, and is beneficial for the environment.”

D-Sun’s solar services to PMHS are widely considered to be much better for the environment than conventional energy – offsetting an estimated 3.5 million pounds of CO, or the equivalent of removing 316 cars from the road.   Solar power from D-Sun also costs the Hilton less per kilowatt hour generated than the electricity it buys from the grid, and under contract terms that guarantee savings for PMHS will grow each year, compounding for 20 years. 

“At PMHS and BPG, we are committed to doing all we can to have the most energy efficient and most efficiently run properties in our industry,” says Dave Pollin.  “Our partnership with Distributed Sun at the Hilton and elsewhere demonstrates our dedication to greening our portfolio with best-practice solutions that improve our bottom-line.”

Leading the next-generation of solar business models and practices, D-Sun installs significantly more solar capacity per dollar invested than the national average, while offering one of the most competitive solar power discounts available.  D-Sun investors benefit too, achieving better returns than the industry norm.  Its first SEIC, sunONE, is fully committed and commissioning power on rooftops in Maryland, Delaware, Pennsylvania and New Jersey now.  Its second SEIC, sunTWO, will deploy 50 megawatts of solar to commercial and industrial buildings of all types with rooftop, carport and groundmount installations beginning this Fall, 2010.  sunTWO will serve 25-100% of its partners’ building power needs, and save them millions of dollars in electricity rate payments.  sunTWO anticipates the creation of several hundred new jobs over the next 18-24 months.

ABOUT DISTRIBUTED SUN

D-Sun is a turnkey solar developer and operator, managing the entire solar value chain after materials manufacture. (For more information visit: http://www.distributedsun.com)

D-Sun formed sunONE LLC in January 2010, to build and own solar arrays on commercial rooftops.  (For more information visit: http://distributedsun.com/funds/sunone)

ABOUT PMHS

Pollin/Miller Hospitality Strategies, Inc. (PMHS) is the hotel management affiliate of The Buccini/Pollin Group (Buccini/Pollin). (For more information visit: http://www.pmhs.com)

MEDIA CONTACTS

For additional information about Distributed Sun or sunONE, please contact Nick Culver at 202-550-4047, or .(JavaScript must be enabled to view this email address). 

For Immediate Release
December, 2009

Next-generation Solar Project Developer Launches Operations in Washington, DC

December | 2009, Washington, DC – Distributed Sun LLC (D-SUN), a solar project developer and services provider targeting small-to-medium commercial solar rooftop installations in the Mid-Atlantic, launched operations and opened its headquarters offices in the downtown business district of the nation’s capital this month. The company has announced the formation of sunONE Fund, a dedicated project equity fund that will wholly finance the construction of its solar renewable energy facilities. D-SUN has already captured several hundred percent of its targeted capacity with select real-estate portfolios under memorandum.

Leading the next-generation of solar business models, D-SUN has assembled a team of successful entrepreneurs, investors, engineers, finance and real-estate professionals, and is pioneering a number of substantive innovations to the solar project development model.

MEDIA CONTACTS

For additional information about Distributed Sun or sunONE, please contact .(JavaScript must be enabled to view this email address).