INSURANCE FUNDS SUN

MetLife and John Hancock Finance SunPower's 19-Megawatt Xcel Energy Solar Power Plant in Colorado
February 24, 2010 (PR Newswire via SunPower)

"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…

"The plant will use SunPower(R) T20 Tracker systems, which tilt toward the sun as it moves across the sky, increasing energy capture and providing more power on hot summer days when utilities need it most. SunPower Trackers generate up to 30 percent more energy per land area than conventional systems and, therefore, reduce land-use requirements."

From solarinsider via YouTube

[Steve Kandarian, executive vice president/chief investment officer, MetLife:] "MetLife recognizes the importance of investing in renewable energy ventures that will have a positive impact on the environment…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."

[John Anderson, senior managing director/head, John Hancock Power and Infrastructure Group:] "John Hancock is delighted to continue our work financing large scale solar power in the U.S. with this major project that brings together such first class partners…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."