http://www.renewableenergyaccess.com/rea/news/story?id=47009Installed atop a bottling plant at Fetzer Vineyards in California is a shiny new 901-kilowatt photovoltaic solar array. The entire cost of the recent solar project to the Mendocino County-based winery? $0.
MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity, LLC, coordinated the financial backing to own, operate and maintain the Fetzer Vineyard system, and sell the clean energy to Fetzer under a long-term Solar Services Agreement (SSA) contract that sets the electricity costs at a fixed rate.
"We get clean power from new solar at a cost that is 10% less than conventional power from the utility. It will stay below the cost of grid power for the length of the contract. It also reduces our peak demand power charges by 70%. All this at no capital expense and no increasing in the asset base," said Susanne Zechiel, Fetzer's manager of facility resources for its California wine group.
Developed by 3 Phases Energy and installed by PowerLight, the Fetzer solar energy system was the first project in 2006 to be financed through MMA Renewable Ventures' solar fund, a vehicle for institutional investment in renewable energy projects nationwide. Deploying the proceeds through its proprietary third-party financing model, the venture company works with solar energy developers such as 3 Phases Energy to offer customers predictably priced clean energy while avoiding the costs of installation and ongoing system maintenance.
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