AMEC will be responsible for the construction of the solar panels on the Foothills campus of Colorado State University, which will be located just east of the city of Fort Collins water treatment plant.
Work on the multi-million dollar project is expected to be completed at the end of 2010. Once completed, the 15-acre array of solar panels is expected to be one of the largest solar installations at a U.S. university and is projected to generate enough power to meet more than 10 percent of the campus’ electricity demand.
“We are delighted to partner with Renewable Ventures on this important renewable energy project to support Colorado State University’s green campus efforts,” said Tim Gelbar, President, AMEC’s Power and Process Americas business. “This is an exciting opportunity for AMEC as we continue our focus on renewable and clean energy solutions.”
Renewable Ventures is working with Colorado State University and Xcel Energy in an innovative public-private partnership, to leverage tax credits and incentives to finance the Foothills Campus solar power system. This partnership will enable the university to deploy the solar array under a long-term electricity contract with Renewable Ventures known as a Power Purchase Agreement. Colorado State University will provide the land under a long-term lease and will purchase the power produced from the solar array at a fixed rate for 20 years.
Xcel Energy signed an agreement with Renewable Ventures to purchase the renewable energy credits associated with the power being produced. At the end of the 20-year term, the university has an option to purchase the solar panels.