23 Jun '11, 3pm

Huge BofA Project to Install $2.6bn of Solar on Company Roofs Across U.S.

Bank of America Merrill Lynch, Prologis and NRG have unveiled a ground-breaking partnership designed to finance up to $2.6 billion of commercial and industrial rooftop solar arrays, giving a huge boost to the amount of grid-connect solar online in the U.S. today. Once finalized the agreement will be the largest distributed solar deal in history, the partners said. They said they have been offered a conditional commitment for $1.4 billion of debt facilities from the U.S. Department of Energy’s Loan Programs Office for the project, which aims to install 733 MW of power and create the equivalent of more than 10,000 full-year jobs across 28 states. At the end of 2009 the U.S. had about 1,250 MW of photovoltaic solar power connected to the grid, according to the Interstate Renewable Energy Council. Bank of America was the sole financial lender in the agreement under the Departm...

Full article: http://www.environmentalleader.com/2011/06/23/huge-bofa-p...

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