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February 24, 2010 – Vol.14 No.49 MetLife and John Hancock to Finance Solar Power Plant in Colorado. MetLife and John Hancock Financial Services will finance the construction and third-party ownership of a 19-megawatt (AC) solar photovoltaic (PV) power plant that SunPower Corp. is contracted to build for Xcel Energy in Colorado's Alamosa County. Construction on the plant, which will be the largest solar power plant in Colorado, will begin this spring, with operations expected to commence before the end of the year. Approximately 100 jobs will be created during construction. "MetLife recognizes the importance of investing in renewable energy ventures that will have a positive impact on the environment," said Steve Kandarian, executive vice president and chief investment officer for MetLife. "This project builds upon the more than $1 billion that MetLife has already invested in renewable energy projects. It also demonstrates our commitment to support growth in the solar energy market by making it easier and more affordable for businesses and public entities to benefit from solar electricity." "The project finance teams at John Hancock and our parent company, Manulife Financial, have a portfolio of renewable energy financings that includes more than $2 billion of projects in the U.S. and Canada. We look forward to the successful completion of the solar power plant in Alamosa later this year," said John Anderson, senior managing director and head of John Hancock's Power and Infrastructure Group.
MetLife is a subsidiary of MetLife, Inc., a leading provider of insurance, employee benefits and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group (2/24/10)
Links: SunPower Corporation MetLife Manulife Financial Corporation John Hancock
Related: --- SunPower to Buy European Solar Project Developer SunRay. --- SunRay and SunPower Partner on Italy’s Largest Solar Power Plant.
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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