PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 21, 2008--Portland
Habilitation Center Northwest, a non-profit organization that trains
and employs individuals with disabilities throughout Oregon and
Washington, will soon host the largest solar electric system in the
state of Oregon. U.S. Bancorp Community Development Corporation will
own and finance the 870 kilowatt system. Additional financing is being
provided by Meyer Memorial Trust and the Energy Trust of Oregon.
United Fund Advisors is developing the project and structured the
financing of the federal and state tax credits for U.S. Bancorp.
Commercial Solar Ventures is working with the Habilitation Center as a
financial solar consultant. Dynalectric and the architecture firm of
Ernie Munch are engaged to design and install the PV system which will
consist of high performance Day4 48 MC solar modules from Day4 Energy.
The solar electric system will be located on the rooftop of the
Habilitation Center's new industrial facility in Northeast Portland.
The renewable energy generated from the system will power expansion of
the Habilitation Center's in-house manufacturing, assembly, order
fulfillment, courier, and warehousing services to a variety of Oregon
and Washington companies. Any excess energy generated from the solar
system will be delivered to Portland General Electric's grid and the
Habilitation Center will be credited for any unused energy under
Oregon's net-metering law. The solar installation will eventually save
the Habilitation Center nearly $75,000 in annual energy costs and
reduce its greenhouse gas emissions by approximately 18,000 tons over
the life of the system.
Despite Portland's rainy reputation, western Oregon has enough
annual sunlight to efficiently power solar projects. Germany, the
world leader in solar installations, actually receives less average
annual sunlight than Oregon. In addition to the ample sunlight, Oregon
has attractive state tax incentives for installing solar systems,
making it a prime region for developing new solar projects.
"This project fits well into U.S. Bank's focus on making a
positive impact on the environment by taking a green approach to our
business policies as appropriate for our company and our customers,"
said Malia Wasson, President U.S. Bank-Oregon.
About U.S. Bancorp Community Development Corporation
U.S. Bancorp's Community Development Corporation, with assets of
nearly $4 billion is one of the largest tax credit investors in the
country. In addition to renewable energy projects, it also finances
affordable housing and community development projects through the use
of low-income housing, historic, and New Markets Tax Credits. It is a
subsidiary of U.S. Bancorp (NYSE: USB), with assets of $238 billion,
the parent company of U.S. Bank, the 6th largest commercial bank in
the United States, which operates 2,518 banking offices and 4,867
ATMs, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. www.usbank.com
About United Fund Advisors
United Fund Advisors is a financial services firm with a triple
bottom line mission. Its Renewable Energy division works with its
investor partners to finance, structure, and develop renewable energy
projects throughout the country. www.unitedfundadvisors.com
About Commercial Solar Ventures
Commercial Solar Ventures is a Portland-based renewable energy
development company specializing in commercial scale solar
installations throughout Oregon. It is a joint venture between Real
Energy Solutions and Sustainable Solutions Unlimited. www.c-s-v.com
About Energy Trust of Oregon
Energy Trust of Oregon, Inc., is a nonprofit organization
dedicated to changing how Oregonians use energy by promoting energy
efficiency and clean renewable energy for Oregon customers of Portland
General Electric, Pacific Power, NW Natural and Cascade Natural Gas.
For more information, call 1-866-368-7878 or visit the website.
Dynalectric's Alternative Power Solutions provides energy
consulting, installation, and maintenance services to clients
nationwide. Working in conjunction with the Energy Trust of Oregon,
Dynalectric's expert consultants evaluate power needs, assess the
energy resource potential of geographic locations, and identify the
right technological solutions. www.dyna-portland.com
About Day4 Energy
Headquartered near Vancouver, British Columbia, Day4 Energy Inc.
(TSX: DFE) designs, manufactures and sells photovoltaic (PV) modules
based on its patented Day4 Electrode technology, a proprietary method
of contacting and interconnecting solar cells that produces PV panels
of high power density, increased lifetime and uncompromised aesthetic
appearance. Day4 Energy partners with the industry's leading PV cell
producers to deliver UL- and TUV-certified commercial and residential
solar products to customers throughout Europe and North America.
CONTACT: U.S. Bank
Lisa Clark, 608-877-7517U.S. Bank
SOURCE: U.S. Bank