MMA Renewable Ventures and Global Solar Sign First PPA for CIGS Thin Film
06 März 2008 - 2:00PM
PR Newswire (US)
750 kW Thin Film Installation Marks Solar Energy Industry First SAN
FRANCISCO, March 6 /PRNewswire-FirstCall/ -- MMA Renewable
Ventures, LLC, a subsidiary of Municipal Mortgage & Equity, LLC
("MuniMae") (Pink Sheets: MMAB), and Global Solar Energy, a leading
manufacturer of Copper Indium Gallium diSelenide (CIGS) thin-film
solar cells, today announced the planned construction of a new
solar electric system at Global Solar's manufacturing facility in
Tucson, Arizona. Expected to begin operation in the fall of 2008,
the 750-kilowatt (kW) installation will mark the first
commercial-scale deployment of Global Solar's CIGS thin-film solar
technology. The innovative solar energy system will be financed,
owned and operated by MMA Renewable Ventures with Global Solar
purchasing the clean power generated under the terms of a
twenty-five year Power Purchase Agreement (PPA). Designed and
installed by Solon America Corporation, the thin film solar power
system will generate more than 1.1 million kilowatt-hours (kWh) of
renewable electricity annually at Global Solar's new
state-of-the-art factory. Incorporating Global Solar's CIGS
technology into modules constructed by Solon America, the
ground-mounted solar energy system will offset 30,000 tons of
carbon dioxide over its expected 25 year lifetime. "With the
commercial introduction of new solar technologies like thin film,
we see tremendous growth opportunities in the market for
cost-effective solar power. Having helped pioneer the solar PPA
model, we are again playing an instrumental role in advancing the
solar industry by enabling these next-generation solar technologies
to be deployed at scale," explained Matt Cheney, CEO of MMA
Renewable Ventures. "Our deep experience in both the finance and
operation of renewable energy systems enables MMA Renewable
Ventures to effectively assess and manage project risk for various
technologies -- whether silicon or CIGS -- to deliver consistent,
high-quality investment opportunities to our institutional
investors." "Building on our years of production experience,
delivering highly-efficient solar cells used in products worldwide,
Global Solar is driving the solar market into the next level of
product innovation and adoption," said Mike Gering, CEO of Global
Solar Energy. "We are proud to be working with a knowledgeable
third-party financer like MMA Renewable Ventures in validating our
technology while supporting the energy needs of our expanded
production line with clean, reliable solar power." Global Solar
Energy, a solar industry leader that manufactures highly-efficient
thin film solar cells for glass modules or flexible materials
products. The Company's proven and stable production process is
creating lightweight and portable PV materials for integration in
commercial, residential, utility-scale and government products. As
a result of its three years of full-scale production, Global Solar
is also the only company achieving 10 percent average solar cell
efficiency for CIGS technology on a flexible substrate over
numerous production runs. The thin film solar power system
represents MMA Renewable Ventures' first project to employ CIGS
technology as well as the company's first solar energy installation
in Arizona. About MMA Renewable Ventures A subsidiary of Municipal
Mortgage & Equity, LLC "MuniMae," (Pink Sheets: MMAB), MMA
Renewable Ventures finances, owns and operates renewable energy and
energy efficiency assets in the United States. The Company provides
leases, Power Purchase Agreements (PPAs) and other customized
financial solutions to help its customers manage energy costs. MMA
Renewable Ventures is dedicated to delivering competitively priced,
clean energy and energy savings to customers, strong partnership
options for project developers, and exceptional opportunities for
institutional investment in the clean energy sector. For more
information about MMA Renewable Ventures, visit
http://www.mmarenewableventures.com/. About Global Solar Energy
Global Solar Energy is a solar industry leader that manufactures
highly-efficient thin film solar cells for glass module or flexible
material products. Global Solar is the only Copper Indium Gallium
diSelenide (CIGS) manufacturer in full-scale production on a
flexible substrate and has achieved 10 percent average solar cell
efficiency. Its thin film CIGS strings are not dependant on silicon
and instead use highly-available raw materials that are easily
integrated into a wide range of applications for use in commercial,
residential, utility-scale and government products. For more
information, please visit http://www.globalsolar.com/. DATASOURCE:
MMA Renewable Ventures, LLC CONTACT: Rosalind Jackson of Antenna
Group, +1-415-977-1923 , for MMA Renewable Ventures Web site:
http://www.mmarenewableventures.com/
http://www.renewableventures.com/ http://www.globalsolar.com/
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