IREC Receives Donation of 1.2 MW Solar Installation from The Conti Group
Albany, NY – RealEstateRama – The Interstate Renewable Energy Council (IREC) announced today that it has received a donation of a 1.2 MWDC solar installation, valued at $1.7 million, from The Conti Group. The donation is the largest unrestricted charitable contribution that IREC has received. Through a long-term power purchase agreement, the system will generate revenue that will help support the organization’s programs for at least 13 years.
IREC is a non-profit that has been trusted for its independent clean energy expertise for nearly 40 years, playing a critical role in advancing clean energy market growth by tackling regulatory, workforce, and economic barriers. IREC works state by state to build the foundation for rapid adoption of clean energy and energy efficiency to benefit people, the economy, and the planet.
The donation was also facilitated by donated services from Enertis and Perkins Coie LLP. Enertis provided a pro bono engineering evaluation of the system and Perkins Coie LLP provided pro bono legal services relating to the transfer of ownership.
“IREC is incredibly grateful for this generous donation from The Conti Group, and to Enertis and Perkins Coie for their services that helped make this donation possible,” said Larry Sherwood, IREC President and CEO. “Not only will the income this solar installation generates enable IREC to expand its impact, helping us to better support the growth of clean energy across the nation, it is also fitting that an organization that has worked for decades to grow the solar industry is now the proud owner of its own solar installation.”
“Not only will the income this solar installation generates enable IREC to expand its impact, helping us to better support the growth of clean energy across the nation, it is also fitting that an organization that has worked for decades to grow the solar industry is now the proud owner of its own solar installation.” — Larry Sherwood, IREC President and CEO
The solar PV system is located on a Marine Corps base in Barstow, California. The system was engineered, procured, and constructed by Conti Solar. Upon completion, ownership of the associated limited liability corporation, Sundurance Barstow, LLC—which holds a long-term power purchase agreement—was transferred to The Conti Group. The Conti Group donated the Sundurance Barstow LLC to IREC, with the transfer of ownership completed on December 31, 2020.
“The Conti Group is proud to announce the donation of its solar asset in Barstow, California to the Interstate Renewable Energy Council (IREC),” said Marc J. Hesse, Chief Financial Officer of The Conti Group. “While a donation of this nature is groundbreaking, it more importantly fulfils the philanthropic mission of the Conti Family while achieving the strategic objectives of The Conti Group. IREC was selected due to the strength of its leadership team and they have been a tremendous partner in this effort. We trust that with the donation of our solar asset IREC will continue to promote clean and efficient energy that benefits the people and economy of our country. The Conti Group would like to thank the Conti Family, the Conti management team for its efforts, IREC and its CEO Larry Sherwood, and the solar team at Cohn Reznick.”
“Enertis shares IREC’s mission for rapid adoption of clean energy and is honored to have assisted their team during the acquisition of this project,” said Iñaki Herrero, Managing Director, North America at Enertis.
Discussing her team’s pro bono legal services to support the donation, Jane Rueger, Partner at Perkins Coie LLP added, “We are proud to support IREC in acquiring these solar assets which should power their mission for years to come.”
The Solar Foundation, which will merge with IREC in the coming year, helped make the connection that led to this donation, and the resulting revenue will benefit all programs of the combined organization.
As a result of IREC’s work since 1982, millions more Americans are able to enjoy the benefits of renewable energy and energy efficiency due to IREC’s fact-based regulatory policy engagement, its work to grow a skilled and inclusive clean energy workforce, and its work to advance clean energy at the local level. By helping to fund key operating costs for the organization, this donation will enable IREC to expand the reach of its work to make clean energy and energy efficiency more accessible and affordable.
About IREC: The Interstate Renewable Energy Council (IREC) builds the foundation for rapid adoption of clean energy and energy efficiency to benefit people, the economy, and our planet. IREC develops and advances the regulatory reforms, technical standards, and workforce solutions needed to enable the streamlined integration of clean, distributed energy resources. Learn more at www.irecusa.org.
Media Contact: Gwen Brown, Communications Director, Interstate Renewable Energy Council | "> | 650-423-1090