SunPower finishes10-Megawatt Solar and 1-Megawatt Storage at U.S

Redstone Arsenal and SunPower Corporation signaled the initiation of operations for a 10 Megawatt solar photo-voltaic and 1-megawatt energy storage system at the U.S. Army post in Alabama.

The solar array and storage project was designed, built and will be operated and maintained by SunPower, with financing provided by Birmingham-headquartered Regions Bank. The solar array, combined with a storage component that maximizes clean electricity use at Redstone.

Lt. Gen. Edward M. Daly, Senior Commander, Redstone Arsenal said “Through innovative collaboration between the Army, Team Redstone, and industry partners, we’ve cost-effectively built a reliable, home-grown renewable energy project that is expected to deliver savings for decades, allowing us to invest more resources in protecting the nation and those we serve.”

The Army is purchasing 100 percent of the electricity generated by the project through a 27-year power purchase agreement (PPA) at rates competitive with traditional energy sources. Regions Bank is providing the capital required for the solar and storage project, eliminating the need for capital expenditure by the Army. Cornerstone Financial Advisors, LLC served as financial advisor to Region Bank on this transaction.

Frank Conley, Senior Vice President Solar Finance for Regions said “We are very pleased to team up with SunPower on the Redstone Arsenal solar facility and have a role in reducing the Army’s electricity costs while enhancing its clean energy utilization.”