Wm. Bolthouse Farms, Inc. and MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity, LLC (OTC:MMAB.PK) announced the completion of a 1.9-megawatt (MW) solar power system installed at the company’s farms in Palmdale, CA. The solar power system, installed at Bolthouse’s S&P and Rowen Farms, is owned and operated by MMA Renewable Ventures.
Regenesis Power of Simi Valley designed and installed the solar tracking array.
MMA Renewable Ventures, which owns and operates the solar power system, worked with Bolthouse Farms and Regenesis Power to develop this project. By leveraging federal tax credits and other state incentives, MMA Renewable Ventures enabled Bolthouse Farms to deploy the 1.9-MW solar array under a long-term contract or Power Purchase Agreement (PPA).
"By securing power through a power purchase agreement rather than a major capital investment, Bolthouse Farms benefits from a renewable energy system that is cost-effective on its first day of operation-and for years to come," MMA Renewable Ventures CEO Matt Cheney said.
Designed and installed by Regenesis Power, LLC using 10,300 high-efficiency solar panels from Mitsubishi Electric, the new ground-mounted photovoltaic solar arrays employ a tilted single-axis tracking system that follows the sun during the day for greater efficiency-maximizing energy production.
"More farms, dairies and food providers are embracing solar, and not only for the cost savings," said Gina Heng, director of sales and marketing for Mitsubishi Electric & Electronics USA’s Photovoltaic Division. "Many agricultural businesses are eager to reduce the emissions generated by non-renewable energy sources. Not only is the solar array at Bolthouse Farms generating clean power, but the farm’s conversion from diesel-powered irrigation pumps to solar-powered pumps significantly reduces noise and improves air quality."
The solar power system covers unused ground on land being farmed by Bolthouse Farms, located east of Palmdale. The solar array was designed to provide nearly 80% of the electricity used to power Bolthouse’s Palmdale operations at these farms.
About Wm. Bolthouse Farms
Wm. Bolthouse Farms, Inc. is a fourth generation farm based in California’s San Joaquin Valley. After more than 90 years of farming and distributing premium fresh produce, the company is a leader in innovation in the industry. Bolthouse Farms employs over 2,400 people year-round, ships over 35,000 tons of Carrot Products each month, and is North America’s leading brand of super-premium refrigerated juices. For more information, visit www.bolthouse.com.
About MMA Renewable Ventures
A wholly-owned subsidiary of Municipal Mortgage & Equity, LLC, MMA Renewable Ventures is a provider of renewable energy to businesses, utilities and government. The company develops, finances, owns and operates solar, wind, biomass and energy efficiency projects that provide clean power to customers without capital investment or maintenance costs. MMA Renewable Ventures is dedicated to delivering competitively-priced, clean energy and energy savings to customers, strong partnership options for project developers, and exceptional opportunities for institutional investment in the clean energy sector.
About Regenesis Power
Regenesis Power is a solar energy company with expertise in the design, construction and finance management of large-scale commercial photovoltaic projects. Regenesis Power also provides fully managed solar water heating programs for electric and water Utility companies, enabling them to offer their residential and business customers a clear choice for clean energy on a mass scale. The Regenesis Power team has designed, developed and managed over 30 MW of industrial and commercial solar projects throughout the US. The company is headquartered in Moorpark, California. For more information, visit www.regenesispower.com.
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