Cajon Valley Union School District and SunPower Corporation (NASDAQ:SPWR) have signed a deal that will see solar power systems installed in 24 schools. This will be in San Diego County in California. The power generated will amount to about 4.6 megawatts.
SunPower’s solar installations at the school sites will include a couple of rooftops but will mostly be carports. Power generation from solar in the selected sites is expected to start before the year ends.
“With CVUSD’s solar investment, we continue to enrich both our schools and our communities by generating clean, renewable energy, which will help save on electricity costs and improve our local environment,” the assistant superintendent of business services for Cajon Valley Union School District, Scott Buxbaum, said.
High student population
Though the deal will only see 24 sites installed with solar power, the Cajon Valley Union School District consists of 27 school sites with an aggregate student population of about 16,500. The school district caters for students from the preschool level to the 8th grade.
The deal between SunPower and Cajon Valley Union School District specifies that the latter is the owner of the solar system as well as the associated credits for renewable energy. The school district is financing the project by securing Clean Renewable Energy Bonds which were secured from the United States Department of Treasury.
More school districts
This is not SunPower’s first project for a school district. Already, the solar power firm has carried out similar projects in approximately 30 districts across the state of California in which about 135 MW of solar power has been installed. Other school districts that SunPower has signed up for a solar system installation include Colton Joint Unified School District, West Contra Costa Unified School District, and Bonita Unified School District.
Besides school districts, SunPower’s other customers including business organizations, households, and governments. With over three decades of experience in offering renewable energy solutions the Silicon Valley, California-based firm has a global presence.
On Tuesday, shares of SunPower Corporation jumped by 8.75% to close the day at $8.58.