Panasonic Enters Exclusive Multi-Year Solar PV Solutions Development Agreement
with Coronal Management LLC
Agreement to offer a new financing and asset management model, from
development and implementation through the first truly comprehensive solution
for solar photovoltaic (PV) systems up to 20 MW in the United States
SECAUCUS, N.J. and BOULDER, Colo., Feb. 14, 2013
SECAUCUS, N.J. and BOULDER, Colo., Feb. 14, 2013 /PRNewswire/ --Panasonic Eco
Solutions North America announces that it has signed an exclusive multi-year
solar photovoltaic (PV) solutions development agreement with Coronal
Management LLC. The agreement highlights Panasonic efforts to bring the only
comprehensive, end-to-end solution for solar PV projects from 250 kilowatts up
to 20 megawatts to the commercial, industrial, municipal, and small utility
sectors. Together, the two companies aim to develop, build and operate a
portfolio of solar PV systems in the United States and Puerto Rico.
"The agreement with Coronal Management brings additional momentum to our
platform as we become an integrated solar energy solution provider for
customers with a shared understanding of the value of solar energy production
and sustainability, both on the bottom line and from an environmental
perspective," said Jamie Evans, managing director, Panasonic Eco Solutions
North America. He continued, "We are committed to developing and promoting eco
solutions, and with Coronal we can deliver more value for our customers."
The Panasonic and Coronal offering provides a single solution that includes
financing, development, engineering, procurement and construction (EPC), as
well as operations and maintenance (O&M) for the life-cycle of its installed
solar systems. With its formidable financial strength, engineering and project
management expertise, active environmental commitment and a robust system
performance guarantee, Panasonic solutions will benefit both customers and
partners for decades to come.
The leadership of Coronal Management brings over 80 years of unparalleled
experience, expertise and success in investment and asset management, as well
as a strong record of success in solar PV project development and financing.
With the capability to bring to market a complete financing and asset
management solution for scalable solar PV projects, the combination of
Panasonic and Coronal results in a complete development, implementation,
financing, and maintenance solution for solar systems.
"Working with Panasonic, we firmly believe we offer a truly unique platform to
create the optimal, end-to-end solution for commercial, industrial, municipal
and small utility solar PV projects," said Jonathan Jaffrey, CEO of Coronal
Management. "This agreement allows Panasonic and Coronal to fill a critical
gap in the solar market, with the potential to bring hundreds of solar
projects into production, generating power for our customers, spurring the
economy and helping the environment."
About Panasonic Eco Solutions North America
Panasonic Eco Solutions North America is a division of Panasonic Corporation
of North America, the principal North American subsidiary of Panasonic
Corporation (NYSE: PC). The company provides a full range of renewable energy
and energy efficiency solutions including the planning, implementation,
financing, and maintenance to corporate and private sector organizations in
both the U.S. and Canada. To learn more about the company and its eco
solutions, visit www.panasonic.com/ecosolutions.
About Coronal Management LLC
Coronal Management LLC is an alternative energy company that develops,
finances, builds, operates and maintains solar photovoltaic ("PV") projects
for institutions, corporations and non-profit organizations throughout North
America. The Coronal team brings more than 80 years of successful investment
management, a strong record of solar project development and has been
recognized by the White House Office of Innovation and Civic Participation as
thought leaders in the solar industry.
Coronal and Panasonic Eco Solutions North America have established a strategic
relationship to deliver the first truly comprehensive life-cycle solution to
facilitate solar projects from inception and financing, to engineering,
procurement and construction (EPC), through to the operations and maintenance
(O&M) of the systems. For additional information, please visit
Contact: Aaron Fowles, Panasonic, +1-619-661-2223,
Aaron.Fowles@us.panasonic.com; Dan Unger, Panasonic, +1-201-392-4571,
Dan.Unger@us.panasonic.com; Bonnie Quintanilla, ZEESMAN, +1-818-681-5777,
email@example.com; Phyllis Grabot, ZEESMAN, +1-805-341-7269, firstname.lastname@example.org
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