Dec 23 2010
Distributed Sun, a Washington DC-based solar project developing company, declared that it has entered into a 20 year power purchase agreement (PPA) with Sheraton Meadowlands Hotel & Conference Center for producing 1.1 MW of solar electricity.
The project is one among the number of megawatt level projects the company anticipates to commission in 2011. Distributed Sun will install the solar facility over the carport of the hotel in collaboration with the owner of the property Buccini/Pollin Group (BPG) and the manager of the property Pollin/Miller Hospitality Strategies.
The proposed carport solar system will be possessed by sunTWO, a Solar Energy Investment Company (SEIC) owned by Distributed Sun. The carport incorporates an architectural-graded design, which will generate solar power with the installed modules while providing shade to the parking lot. The facility designed to produce around 1.2 GW of per year will generate around 40 GW hour of solar power during the life time of the installation. Initial capital investment for the restoration of the old hotel parking lot will be managed by Distributed Sun and the invested amount will be adjusted in the PPA rate plan till such time the extra investment is received by sunTWO, while the other two partners will make a nominal capital investment. The arranged PPA program will enable the hotel to receive electric power at a lesser rate compared to the power received from conventional power sources.
The solar installation when completed will offset around 75 million pounds of carbon dioxide every year, which can be equated to keeping 6,500 cars off the road. The power produced from the system will cost lesser than the cost of the power being purchased by the hotel from the utility companies. The terms of the contract allows PMHS to earn certain amount as savings every year for a period of 20 years.