AEDG Featured in National Media as It Completes Its Role as Developer for 2.6 MW CA Fuel Cell Project.
Solid Oxide Fuel Cell / PPA / Bloom Fuel Cell / Alternative Energy Development Group / Bloom PPA / Bloomenergy / Power Purchase Agreement / Fuel Cell / AEDG WGL Holdings, Inc. (NYSE: WGL), through its subsidiary, Washington Gas Energy Systems (WGESystems), announced a 2.6 megawatt (MW) Bloom Energy project in Santa Clara County, Ca. (SCC). WGESystems will finance, build, own and operate the 2.6 MW Bloom Energy project and sell all energy generated to SCC under a 20-year power purchase agreement (PPA). The Bloom Energy Servers will generate clean and reliable power using natural gas and biogas, reducing the County's carbon emissions by nearly 5 million pounds each year.
"WGL is committed to providing clean and efficient energy answers while remaining a responsible steward of our resources," said WGL Chairman and CEO, Terry D. McCallister. "We are proud to partner with Bloom Energy, and to service Santa Clara County, as we continue to invest in clean energy solutions as part of our expanding diversified energy portfolio."
Bloom Energy's solid oxide fuel cell technology generates electricity through a highly efficient electrochemical process and provides clean, on-site energy. WGESystems designs-builds, owns and operates energy solutions that deliver financial, operational and carbon reduction results for non-residential customers across the United States. For projects such as this one, WGESystems has established a financing program that enables customers, including non-profit organizations, to deploy Bloom Energy's distributed, clean power solution.
"Santa Clara County has been a strong proponent of clean energy, and we are looking forward to having another project right here in our backyard, " said KR Sridhar, Principal Co-Founder and CEO of Bloom Energy. "Energy industry partners that are willing to invest in technology projects are key to the development of a clean energy economy, and our partnership with Washington Gas Energy Systems continues to strengthen our ability to provide attractive projects for our growing customer base."
"The County of Santa Clara was one the primary leaders in creating the 20-year power purchase agreement with other local jurisdictions," said Supervisor Dave Cortese, Chair of the Board's Housing Land Use Environment and Transportation Committee. "The agreement demonstrates that there is a market for clean energy solutions and it supports the County's goal of reducing its carbon footprint."
Alternative Energy Development Group (AEDG) served as the developer for the Bloom Energy project at four SCC facilities.
PDF version of the Wall Street Journal Press Release is attached
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Solar PPA / Fuel Cell / AEDG New York, NY -- Karbone's Capital Advisory group, who thus far advised several solar, wind and alternative energy projects to secure equity, debt and tax equity financing, has completed its Capital Advisory Services for Developer Alternative Energy Development Group, LLC (AEDG) in a CA based joint solar and fuel cell project in the commercial & industrial space.
"This project presented us a complex financing challenge which involved the structuring of tax incentives, debt and equity financing for distributed generation" said CEO of Karbone Mr. Bensusan.
Karbone's financing team worked with developer AEDG for a duration of more than a year on identifying viable sources of capital as well as developing financial models that suited all interested parties."Karbone's people, knowledge, collaboration and resolve were important contributions to the success of this project," said Chris Fraga, AEDG's Founder & CEO.
A top ranked firm several years in a row, Karbone continues to execute on its unique strategy as the comprehensive financial services shop providing Capital Advisory, Brokerage and Research services for the renewable energy sector.
For further information please contact us firstname.lastname@example.org or (646) 291-2858.
AEDG announces a 30MW Fuel Cell development pipeline spanning commercial, not-for-profit and public sector entities in the United States. The 30MW pipeline includes:
(16) commercial-scale entities on the East/West Coast of the US.
(2) for-profit entities on the East Coast, totaling 2MW of Bloomenergy servers across 4 sites, who have formally selected AEDG and Bloomenergy and are in the contracting/procurement phase.
(2) public-sector entities (East & West Coast), totaling 3.8MW’s of Bloomenergy servers across 7 sites, who have formally selected AEDG & Bloomenergy and are in the contracting/procurement phase.
Project details will be shared via formal Press Releases following each client's final contract and award in Q4’2012.
AEDG and Bloomenergy will complete installation and commissioning services beginning in the 2H of 2013.