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Thursday, December 1, 2011
Backed by Federal Loan Guarantees, Merrill Lynch Finances $1B in Military Solar Projects
By Selected News Articles @ 12:44 AM :: 8485 Views :: Maui County, Education K-12, Energy, Environment, National News, Ethics

PowerEngineering.com Nov 30, 2011

SolarCity and Bank of America Merrill Lynch agreed to terms on financing for a more than $1 billion project to install up to 300 MW of solar projects on U.S. military housing communities across the country.

The project, called SolarStrong, aims to install these projects over five years. SolarCity has already begun installations at Joint Base Pearl Harbor-Hickam in Hawaii.

SolarCity was unable to finalize a $344 million loan guarantee from the U.S. Department of Energy before a Sept. 30 deadline.

Private equity firm U.S. Renewables Group served as financial advisor for SolarStrong.

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Just ignore this: 49% Waste: Inspector General Slams Hawaii Navy Solar Projects

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