Clean Power Finance® (CPF) and Integrys Energy Services, Inc., a subsidiary of Integrys Energy Group, Inc. (NYSE: TEG), a leading Midwestern utility holding company, announced the creation of a residential solar finance fund through the CPF Market®, an online platform that empowers electric power companies to invest in residential solar. The fund enables Integrys Energy Services' investment in the residential distributed generation (DG) solar sector.
'CPF's business model and industry expertise make us the natural partner for innovative power companies that want to develop attractive new assets,' said Nat Kreamer, CEO of Clean Power Finance. 'CPF is currently the only residential solar finance company that allows a retail energy company such as Integrys Energy Services to set the parameters of its fund, promote its brand to consumers and own 100 percent of the asset. We look forward to helping Integrys Energy Services deploy its capital in residential DG solar systems that support strategic goals such as customer load retention.'
CPF connects multiple electric power investors with the largest network of qualified solar professionals in the U.S. Integrys Energy Services plans to make the fund available to CPF partners in many of the key solar-friendly states such as California, Hawaii, New Jersey, New York, Maryland and Massachusetts.
'Integrys Energy Services has a strong track record of investing in solar assets at customer sites,' said Dan Verbanac, president of Integrys Energy Services. 'Since 2008, we have deployed more than 50 MW in the commercial solar sector across the U.S. The CPF Market's flexibility and strong underwriting capabilities provide us with an efficient way to bring customers a residential solar offering. We are excited to be able to offer residential solar as a complementary product for our growing customer base of residential and aggregation customers.'
About Clean Power Finance
Clean Power Finance (CPF) is a financial services and software provider for the residential solar industry. CPF connects solar professionals with institutional investors through the CPF Market, the online platform that allows electric power companies to invest in residential solar. CPF also provides the solar industry with CPF Tools®, a leading solar sales SaaS application. Solar professionals use the CPF Market to access a variety of unbranded, third-party owned finance products. Investors and lenders use it to invest in solar assets that provide reliable rates of return with managed risk. Founded in 2006, CPF manages half a billion dollars of project financing on behalf of third-party solar investors that include major corporations, electric power companies and financial institutions.
About Integrys Energy Services, Inc
Established in 1994, Integrys Energy Services, Inc. provides competitive energy supply solutions, structured products, and strategies that allow retail residential, commercial, and industrial customers to manage their energy needs. Its principal energy marketing operations are in the northeastern quadrant of the United States. Through its subsidiary, Integrys Energy Services - Natural Gas LLC, Integrys offers natural gas products to a full range of end-users throughout the Midwest and MidAtlantic. Areas of generation expertise include cogeneration, distributed generation, renewables such as solar and landfill gas, as well as clean fuel generation, with facilities in selected markets throughout the United States. More information about Integrys Energy Services is available online at www.integrysenergy.com.