General Motors Ventures has declared that it has invested $7.5 million in the equity of Sunlogics, a vertically incorporated solar power systems supplier, which also specializes in the development of solar projects and installation. The investment is anticipated to generate around 310 job opportunities.
GM has also entered into commercial accords with Sunlogics to complete the erection of the solar power charging canopies at the places of its Chevrolet dealers and at other facilities owned by GM. The company also has contracted a power purchase accord with the company to erect solar modules over its facilities and has agreed to buy the power produced from such facilities.
Sunlogics is planning to utilize some of the funding received from GM to set up its production facilities and corporate head quarters at a suburban location in Detroit and another production facility in Ontario. The proposed production installation in Southeast Michigan is anticipated to generate around 200 jobs while its Canadian facility will offer job positions for 110.
Mike Robinson, vice president of Energy, Environment & Safety Policy at GM, stated that currently all the GM facilities have 30 MW worth of solar installations and are committed to double the solar power generation output by the year 2015, which can be equated to providing power supply to around 10,000 homes every year. He further said that while the use of renewable energy is considered a good business sense it also assists in cutting down the carbon impact of the facilities while improving the environment.