Main Street Power Company Inc, the solar developer based in Boulder is joining hands with Morgan Stanley, who is known as the financial giant to supply free solar power to residents in the California who are income qualified. The company also expects that the program which provides free energy to be in action for ten long years. The company’s partnership with the financial giant is from the MS Solar Solutions Corp, a subsidy of Main Street Power Company.
The project has received its funds through a partnership of Main Street Power, Central Coast Energy Services in California and the nonprofit group in California, Association of California Community Energy Services who will be directing the project. Arleen Novotney, the executive director of Association of California Community said this project exactly represents the innovative public-private partnerships providing the actual advantages to the citizens who are having low income.
The Main Street Power Company Inc which set up solar projects also controls it and also provides solar electricity by selling it to the customers. The officials of the company had already worked with a subsidiary of Morgan Stanley to set up 1 MW of power to the cities of Lafayette and Westminster and University of Colorado Real Estate Foundation and others. The company has also received many solar projects such as six schools in the San Diego and other 12 sites in the Contra Costa County and some places in California are included for the solar projects.
The Renova Capital Partners who are located in Denver were taking care of initial round of funding in the company and the International Center for Appropriate & Sustainable Technology who has tied with Renova based in Lakewood has equity interest in the company. Main Street Power Inc also involves a number of Boulder County investors who are not mentioned.
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