Recurrent Energy Closes Financing for Solar PV System at Sunset Reservoir [USA, CA]
FINANCIALPOST - Recurrent Energy, an independent power producer and a leading developer of solar power projects, today announced that it has closed long term debt financing for its 5 megawatt (MW) solar power system located at the Sunset Reservoir in San Francisco. The company secured approximately $18 million for the project from Prudential Capital Group, which provided 24-year term debt financing.
The solar power system located atop the Sunset Reservoir, San Francisco’s largest water reservoir, will be one of the largest municipal solar power systems in the United States and will more than triple San Francisco’s total municipal solar energy output. The solar power system is expected to be fully operational by early Fall of 2010.
