PORTLAND, Ore.--Oct
14 2008 -Portland General Electric (PGE) (NYSE:
POR) and its partners today rolled out the largest solar
project in the Pacific Northwest, which is expected to
begin producing up to 1.1 megawatts of electricity for
PGE customers by December.
The project, using
“thin-film” solar panels, is being installed on the
rooftops of three ProLogis distribution warehouses in
northeast Portland. The solar panels will cover more
than 328,000 square feet.
“To meet Oregon’s future
energy needs, we’re going to need every tool in our tool
box,” said Peggy Fowler, CEO and president of PGE. “With
this project, we will be putting solar power directly
onto the grid, adding to the renewable energy PGE
already is delivering to our customers.”
PGE already supports
customer-owned solar power projects through net-metering
arrangements, which allow customers to generate their
own solar power and tap into the PGE grid as needed. In
addition, part of PGE’s contribution comes from
funds—provided by the company’s Clean Wind renewable
power customers—that support renewable power
demonstration projects and development of renewable
power resources.
Fowler thanked U.S. Bank,
ProLogis, Energy Trust of Oregon, United Fund Advisors
and Solar Integrated Technologies for working with PGE
to make the project possible.
To date, ProLogis (NYSE:
PLD) has approximately six megawatts of solar panels
installed or under development on rooftops in Southern
California, France, Germany and Spain.
U.S. Bank and PGE have
formed SunWay 2, LLC, to own and operate the system and
to secure state and federal solar tax credits to help
finance the project. The financing package was arranged
by United Fund Advisors (UFA). In August, PGE and U.S.
Bank formed a similar joint venture to finance the
nation’s first solar highway project for the Oregon
Department of Transportation.
In addition, Energy Trust of
Oregon, a nonprofit organization that promotes energy
efficiency and renewable energy, is providing about $1
million in incentives for the project.
Thin-film photovoltaic (PV)
solar panels are ideal for rooftop installations, as
they are lighter, require less structural support and
have a higher wind rating than traditional glass
laminated and aluminum framed solar panels. Solar
Integrated Technologies, Inc. (AIM:SIT.LN), has been
selected to integrate and install the system; the
company also has worked with ProLogis on solar energy
systems in France and Spain.
About PGE: Portland General
Electric, headquartered in Portland, Ore., is a fully
integrated electric utility that serves more than
813,000 residential, commercial and industrial customers
in Oregon. Visit our Web site at
www.PortlandGeneral.com.
About U.S. Bank: U.S. Bank
is the fifth largest commercial bank in the United
States. The company operates 2,542 banking offices and
4,895 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage,
trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bank on the web
at
www.usbank.com.
Contacts
PGE
Elaina Medina, 503-464-8790
