Belmar Unveils One of the Largest Solar Parking Structures in the Western United States
22 Ottobre 2008 - 2:00PM
PR Newswire (US)
1.75-Megawatt Solar Array Dedicated in Lakewood, Colo. LAKEWOOD,
Colo., Oct. 22 /PRNewswire-FirstCall/ -- Continuum Lakewood
Development Company, in association with MMA Renewable Ventures, a
subsidiary of Municipal Mortgage & Equity, LLC (Pink Sheets:
MMAB), Oak Leaf Energy Partners and SunPower Corporation
(NASDAQ:SPWRANASDAQ:SPWRB), is dedicating today a 1.75-megawatt
solar power system that has been constructed on three parking
garages at the Belmar mixed-use development in Lakewood, Colo. It
is one of the largest solar parking structures in the Western U.S.
"This solar project delivers on the Colorado promise of the 'New
Energy Economy,' which is establishing Colorado as a leader in
renewable energy and creating jobs throughout the state," said
Colorado Gov. Bill Ritter. "I congratulate Continuum for its
leadership and call upon developers and business owners throughout
the nation to follow the example we've set here in Lakewood." Gov.
Ritter, as well as U.S. Sen. Ken Salazar, Congressman Ed
Perlmutter, Lakewood Mayor Bob Murphy and other regional
dignitaries, will attend the dedication ceremony today. MMA
Renewable Ventures, which owns and operates the 1.75-megawatt
system, joined with Continuum Partners and SunPower to develop an
innovative partnership, leveraging tax credits and incentives to
finance this landmark solar power system. The partnership enabled
the City of Lakewood and Belmar to deploy the solar parking
structure under a long-term electricity power contract, or power
purchase agreement (PPA). The electricity is competitively priced
against retail rates, providing Belmar with a long-term hedge
against rising peak power prices. The Belmar solar parking
structure was designed and installed by SunPower, using more than
8,000 SunPower solar panels, which are the highest efficiency
panels on the market today. The solar parking structure supports
Colorado's commitment to environmental sustainability by reducing
carbon emissions into the atmosphere by almost 4 million pounds
each year. "Our decision to partner with Oak Leaf Energy Partners,
MMA Renewable Ventures and SunPower was a key factor to the success
of this project," said Mark Falcone, Continuum managing partner.
"For a project of this scope and complexity, we have been well
served by teaming up with the largest and most experienced partners
in the sector." The Belmar solar project is part of the Xcel Energy
Solar Rewards Program and will receive a rebate to offset the
upfront construction costs. Xcel Energy will purchase the renewable
energy credits from the clean electricity produced in support of
Colorado's Renewable Energy Standard, which requires large
utilities to generate 20 percent of their power from renewable
energy sources by 2020. About Continuum Partners, LLC Continuum
Partners is a Denver based real estate development company born
from the belief that there is a connection between long-term,
sustained property value and high-quality urban design. Continuum
combines an experienced real estate development team with a solid
base of capital resources to develop projects that demonstrate the
principles of smart-growth. Continuum Partners, LLC metro-Denver
projects include: Bradburn, Belmar, Art House Townhomes, Belleview
Station and Union Station. About Belmar Belmar, located 10 minutes
from downtown Denver at South Wadsworth Boulevard and West Alameda
Avenue in Lakewood, Colo., is a walk-able community that includes
70 shops and 14 restaurants, entertainment, cultural activities,
homes, offices and ample free parking. Belmar is dedicated to the
responsible use of limited natural resources and the reduction of
energy use. In addition to the development's new solar power
system, the Belmar district features a small urban wind farm with
14 turbines powering lighting for a large parking lot as well as
solar powered pay-and-display parking kiosks used to manage 350
on-street parking spaces. For more information, visit
http://www.belmarcolorado.com/ or call 303-742-1520. About MMA
Renewable Ventures A wholly-owned subsidiary of Municipal Mortgage
& Equity, LLC (OTC:MMAB.PK), MMA Renewable Ventures is a
provider of renewable energy to businesses, utilities and
government. The company develops, finances, owns and operates
solar, wind, biomass and energy efficiency projects that provide
clean power to our customers without capital investment or
maintenance 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. Our team of engineers, financiers and project
managers are passionate about building a sustainable future. For
more information, visit http://www.mmarenewableventures.com/. About
Oak Leaf Energy Partners Oak Leaf Energy Partners was founded in
2005 to provide project development and consulting services for
renewable energy transactions. The company helps property owners
deploy solar and other renewable energy derived power across their
portfolio of buildings and properties. Oak Leaf Energy Partners
("OEP") provides full turnkey development solutions, including
feasibility studies, site planning and interconnection analysis,
tax and financial structuring and negotiating financing and EPC
contracts. Since its founding, the Company has emerged as one of
the largest and most active solar energy developers in the Rocky
Mountain West, with a growing regional and international footprint
and pipeline. About SunPower SunPower Corporation
(NASDAQ:SPWRANASDAQ:SPWRB) designs, manufactures and delivers
high-performance solar electric systems worldwide for residential,
commercial and utility-scale power plant customers. SunPower
high-efficiency solar cells and solar panels generate up to 50
percent more power than conventional solar technologies and have a
uniquely attractive, all-black appearance. With headquarters in San
Jose, Calif., SunPower has offices in North America, Europe,
Australia and Asia. For more information, visit
http://www.sunpowercorp.com/. Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are statements
that do not represent historical facts. The companies use words and
phrases such as "rising," "reducing," and similar expressions to
identify forward-looking statements. Forward-looking statements in
this press release include, but are not limited to, the companies'
plans and expectations regarding: (a) the electricity produced by
the system being competitively priced against retail rates and
providing Belmar with a long-term hedge against rising peak power
prices; and (b) the solar parking structure reducing carbon dioxide
emissions into the atmosphere by almost 4 million pounds each year.
These forward-looking statements are based on information available
to the companies as of the date of this release and management's
current expectations, forecasts and assumptions, and involve a
number of risks and uncertainties that could cause actual results
to differ materially from those anticipated by these
forward-looking statements. Such risks and uncertainties include a
variety of factors, some of which are beyond the companies'
control. In particular, risks and uncertainties that could cause
actual results to differ include: (i) actual electricity
generation; (ii) the actual energy consumption rate; (iii)
unexpected changes in utility service rates; (iv) variations in
carbon dioxide emissions reductions; and (v) other risks described
in SunPower's Quarterly Report on Form 10-Q for the quarter ended
June 29, 2008, and other filings with the Securities and Exchange
Commission. These forward-looking statements should not be relied
upon as representing the companies' views as of any subsequent
date, and the companies are under no obligation to, and expressly
disclaim any responsibility to, update or alter their
forward-looking statements, whether as a result of new information,
future events or otherwise. SunPower is a registered trademark of
SunPower Corp. All other trademarks are the property of their
respective owners. DATASOURCE: SunPower Corporation CONTACT: Ingrid
Ekstrom of SunPower Corporation, +1-510-260-8368, ; or Stephanie
Jackson of Continuum Partners, LLC, +1-303-742-1528, ; or John
Hereford of Oak Leaf Energy Partners, +1-303-333-1339, ; or Peggy
Mackinnon of Peggy Mackinnon Communications, +1-303-905-5005, ; or
Stri Zulch of MMA Renewable Ventures, +1-510-339-1527, Web site:
http://www.sunpowercorp.com/ http://www.belmarcolorado.com/
http://www.mmarenewableventures.com/
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