RANCHO MIRAGE, Calif., March 14, 2018 /PRNewswire/ -- K2 Clean Energy Capital, LLC, a leading developer of Commercial PACE (C-PACE) financing, is pleased to announce the closing of the PACE and Prepaid Power Purchase Agreement (PPA) financing for a 450kW DC, $1.4 million solar photovoltaic (PV) carport project at the Sunrise Country Club in Rancho Mirage, CA.
The solar (PV) system will offset over 70% of the Sunrise's power usage and the carports will provide shade from the desert sun at the 18-hole golf and tennis club in the heart of Rancho Mirage.
"Solar Gain West selected K2 Clean Energy Capital to put together the financing for this project. K2's approach using PACE combined with the pre-paid PPA financing was the most cost-effective approach for Sunrise," said Roman Black, President of Solar Gain West. "K2 worked closely with our client through each step of the process and simplified the financing for the club."
"We were delighted to work with Solar Gain West and Sunrise Country Club on this project. Using PACE financing combined with a pre-paid PPA enabled the client to monetize the 30% Federal Investment Tax Credit with no capital outlay by the country club," said Jonathan Pickering, Managing Director and Co-Founder of K2 Clean Energy Capital. "Our initial connection with Solar Gain West was a result of our collaboration with Energy Toolbase," he added. "Energy Toolbase Users can use K2's commercial PACE financing application to run the economic analysis for a project in real time."
About K2 Clean Energy Capital, LLC:
K2 Clean Energy Capital is a leading developer of C-PACE renewable energy, energy efficiency, and water conservation projects with a focus on the hospitality, bio-tech, food-processing/distribution, and retail industries. The company has offices in Campbell, CA in the San Francisco Bay Area and Austin, TX. K2 CEC also offers commercial financing services to renewable energy contractors and developers through its PACE Financing Application on the Energy Toolbase proposal generation platform. More information is at www.k2cleancap.com.
About Solar Gain West
Solar Gain West is a developer, designer and contractor of high quality solar projects for residential and commercial clients, specializing in complex projects. We provide solutions to our client's challenges whether they be financing, cost or design related. Solar Gain West has the expertise, experience and holistic knowledge of the solar industry needed to provide our customers with a complete system that will seamlessly integrate solar into their facility. Our objective is not just to design and install quality PV solar projects, but to provide each client with a tailored system to generate the lowest lifetime cost of ownership. Solar Gain West offers a suite of services to support the objective of improving our customers' bottom line through targeted application of renewable energy. Our commercial customers manage facilities supporting the manufacturing, warehousing, medical, and hotel industries and also include not-for-profit entities such as churches and schools. Solar Gain West is headquartered in Tucson Arizona and has offices across Southern California.
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SOURCE K2 Clean Energy Capital, LLC