Douglas County School District, Colorado’s third largest school district, recently announced that it will be bringing on a total of 3.1 megawatts (MW) in solar power generating capacity via projects at 31 different sites in Douglas County, Colorado.
These projects are based on agreements between the school district and Premier Power Renewable Energy, a global solar leader, and REgeneration Financing, a solar developer and financier that works with school districts, universities, municipalities. These companies were selected from the eleven competitive bids the Douglas County School District received after issuing calling for proposals last year, based on their experience, ability to complete the project and certainty of financial terms presented.
Construction began on the sites at the beginning of this month and currently, more than 17,000 photovoltaic panels are in the process of being fitted for the 31 school district sites across the county, including 30 elementary, middle and high schools as well as one athletic stadium, all of them located in Highlands Ranch, Littleton, Lone Tree or Parker.
Under the terms established by REgeneration Financing, the school district will pay none of the $18 million in upfront costs, but will pay the financing agency back under a 25-year power purchase agreement expected to save the district a total of $5.5 million.