Psomas Renewables and First Management Group have joined forces to form PsomasFMG, LLC. The company provides turnkey solar solutions to public agencies and commercial entities at no cost to the client. “The solar systems that we provide substantially reduce client electricity costs, promote energy independence and reduce greenhouse gas emissions in compliance with AB32,” said Jacob Lipa, PsomasFMG Chairman, in announcing the new company.
Current federal and state solar subsidies provide a window of opportunity for turnkey solutions. According to Louis Kwiker, PsomasFMG President: “Time is of the essence to get these solar systems built without cost to the client because federal and state subsides are shrinking or will end in 2010.” Private investor funds are used to build these solar systems. The return on this investment is derived from the federal and state subsidies and the net cash received from the sale of electricity to the public agency.
Solar energy systems can serve to lower electricity costs on a wide range of projects, from municipal facilities like water treatment plants, civic centers and bus and rail stations to schools, hospitals, major distribution centers, and shopping centers. PsomasFMG will focus on building one-megawatt and larger solar systems. Turnkey services include project conception, financing, design, installation, and operation.
Psomas Renewables, LLC and its parent company Psomas serve clients in the transportation, water/wastewater, and public, private and institutional site development markets. The Psomas companies’ renewable energy project slate includes municipal facilities such as water plants, reservoirs, and pump stations as well as assisting several communities with their overall power needs. Psomas will provide engineering consulting services and program/construction management to PsomasFMG, based in Los Angeles. For more information visit www.psomasfmg.com or call 213-223-1470.
FMG will provide financial and management expertise to PsomasFMG. For more information, visit www.firstmanagementgroup.com.