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Recurrent Energy Closes 200 Million Dollar Staged Solar Project Fund With Morgan Stanley
San Francisco CA (SPX) Dec 11, 2007 Recurrent Energy announced the close of a $200 million staged solar project fund with Morgan Stanley. The fund represents a commitment by Morgan Stanley to provide financing for $100mm of Recurrent Energy's solar electric power projects in 2008 and an additional $100mm in 2009. "Morgan Stanley is a leader in the industry and their commitment to financing renewable energy has been clear from the start," said Arno Harris, chief executive officer of Recurrent Energy. "We look forward to putting this new fund to work quickly to help our clients transform empty rooftops into value-generating, sustainable assets." Recurrent Energy sells solar electricity from its projects to institutional property owners (REITs and pension funds) and their tenants via a power purchase agreement at grid-competitive rates. Called Solar as a ServiceSM, Recurrent Energy's offering enables its customers to cost-effectively reduce their use of fossil-generated electricity across large property portfolios. "Morgan Stanley is excited to work with Recurrent Energy to finance its solar power solution for institutional property owners. Recurrent Energy's unique approach to the rooftop solar market, in conjunction with the federal and state incentives, creates an innovative and economic solar solution for the marketplace," said Edward Levin, a Vice President of Morgan Stanley. Community Email This Article Comment On This Article Related Links http://www.recurrentenergy.com/ Powering The World in the 21st Century at Energy-Daily.com
Darfur rebels say they attacked Chinese-run oilfield in Sudan
Khartoum (AFP) Dec 11, 2007Darfur rebel group the Justice and Equality Movement (JEM) said on Tuesday it had attacked and taken over a Chinese-run oilfield in central Sudan. |
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