Integrys and ASU have teamed up in a creative way to boost adoption of a renewable energy technology, making this a perfect fit for our renewable energy group
Pittsburgh, PA (PRWEB) September 16, 2009
National City Commercial Capital Company, LLC (NC4), now a part of The PNC Financial Services Group, Inc. (NYSE: PNC), and Integrys Energy Services, Inc., a subsidiary of Integrys Energy Group, Inc. (NYSE: TEG) announced today the completion of a $13 million solar financing deal related to three photovoltaic solar projects on the campus of Arizona State University.
Integrys Energy Services, through its subsidiary Sun Devil Solar, LLC, developed, installed and commissioned the solar projects that now sell all of the solar energy generated to the University. The solar projects are located on three different structures, including two parking structures, within the Arizona State University campus located in Tempe.
"Integrys and ASU have teamed up in a creative way to boost adoption of a renewable energy technology, making this a perfect fit for our renewable energy group," said Dick Rai, manager of NC4's renewable energy group.
Like PNC, NC-4 is committed to sustainable business practices and provides renewable energy project financing, both short-term and long-term, designed to leverage depreciation, tax credit programs and/or rebates for financing renewable energy projects.
"Integrys is excited to add NC4 as a capital partner as we look to expand upon our delivery of clean, renewable solar energy to our customers such as Arizona State University," said Joel Jansen, managing director of energy assets for [Integrys Energy Services].
lntegrys Energy Group, Inc. is a diversified energy holding company with regulated electric and natural gas utility operations (serving approximately 2 million customers in Illinois, Michigan, Minnesota, and Wisconsin), non-regulated energy operations, and an equity ownership interest, or about 34%, in ATC (a federally regulated electric transmission company operating in Wisconsin, Michigan, Minnesota, and Illinois). More information about Integrys Energy Group, Inc. is available online at http://www.integrysgroup.com.
The PNC Financial Services Group, Inc., (http://www.pnc.com) is one of the nation's largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
For more information, contact Amy Vargo, PNC Corporate Communications, at 412-762-1535.