Wayne, PA (PRWEB) March 25, 2010
De Lage Landen Financial Services, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, announced today that its newly formed Clean Technology (CT) Group has completed its first lease transaction for a 180-kilowatt solar-power project in Newington, Connecticut. The project consists of 592 solar panels located on the roof of the Martin Kellogg Middle School. It will generate 192,000 kilowatt hours of clean energy in its first year of operation, while providing an effective hedge against increases in part of the school's electric utility costs.
Made possible by a grant from the Connecticut Clean Energy Fund (CCEF), the project is eligible for a grant from the United States Treasury.
The project was developed by De Lage Landen vendor partner MP2 Capital LLC, a leading developer and operator of solar energy projects, which also provided construction financing for the installation.
"Working with De Lage Landen was a simple, efficient and pleasant process. We look forward to continuing our longstanding relationship and advancing our significant backlog of projects with De Lage Landen throughout 2010," says Brad Bauer, president, MP2 Capital.
Solar Design Associates, a recognized engineering and architectural firm specializing in this segment, designed the project. Solar Design has built systems worldwide, including one at the White House in Washington, DC.
Financing clean technology initiatives gives De Lage Landen an avenue to improve the wellbeing of our global community and further align strategically with our parent, Rabobank. "This solar project, while beneficial to the environment, also provides a learning opportunity for the Newington community on the importance and effectiveness of renewable energy," adds Ed Sproull, vice president of sales for the Clean Technology Group. "We're happy to contribute to a learning tool that the school can utilize with its students, as we continue to establish De Lage Landen as a leader in solar finance."
About De Lage Landen:
De Lage Landen is a global provider of high-quality asset-based financing products. Headquartered in Eindhoven (the Netherlands), De Lage Landen is 100% owned by Rabobank. This Dutch bank is triple-A rated by the major rating agencies Moody's and Standard & Poor's.
With offices and joint ventures in more than 35 countries worldwide, De Lage Landen specializes in asset financing and vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food & Agriculture, Healthcare, Office Equipment, Technology Finance, Financial Institutions, Transportation and Construction & Industrial. De Lage Landen also offers private-label leasing programs for the banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.
In the Netherlands, De Lage Landen offers a broad range of financing products, both through local Rabobanks and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Factoring.
Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in eight European countries.
In 2009 De Lage Landen achieved a net profit of € 112 million ($156 million USD) and a lease portfolio of € 23.7 billion ($34.2 billion USD). By year-end 2009, De Lage Landen had more than 5,000 employees. For more information, please visit our website: http://www.delagelanden.com.
About MP2 Capital, LLC
MP2 Capital, LLC (http://www.mp2capital.com) develops, finances and invests in distributed generation and small-scale utility solar projects throughout North America. The firm was founded in 2006 in response to the growing demand for clean, renewable sources of energy. MP2 Capital sells the electricity produced by its projects to commercial, government and utility customers under Power Purchase Agreements and Feed-in Tariffs, providing customers with reliable and cost-efficient electricity without any up-front costs or ongoing operating expenses. The firm is based in San Francisco, California.
About Solar Design Associates
Solar Design Associates (http://www.solardesign.com/) is dedicated to creative integration of renewable energy systems in the design of homes and buildings. As North America's oldest and most respected renewable-energy design firm, we have deep expertise in building-integrated design and sustainable systems engineering. We work with architects, engineers and commercial building owners, as well as private and institutional clients, in the quest for excellence and innovation in solar electric, solar thermal and wind energy systems.