Ribbon-Cutting Ceremony honors phase one completion of PSD's "green" initiative

PALMDALE, CA – (November 3, 2011). Los Amigos School was the host site for Palmdale School District's ribbon-cutting celebration today for a solar power system that is being installed at 18 of the district's 24 schools. Civic officials and business leaders were on-hand to commend school district officials on their foresight and congratulate them on the phase one completion of their green initiative.

Through a public-private partnership with the Palmdale School District (PSD), PsomasFMG is providing a turnkey solar solution. The company arranged for project financing free of upfront costs to the school district, and is managing the installation of the three-phase, 5.873 megawatt project. The solar system features photovoltaic (PV) panels mounted atop carport structures. Eight of 18 sites are installed, and all are scheduled to be fully operational by the spring of 2012. Each site will be less than one megawatt.

"Today is a momentous step for the Palmdale School District as we celebrate the implementation of our vision for energy independence," said Roger Gallizzi, superintendent. "The school district's solar initiative will provide for a cleaner, greener future that will reduce our carbon footprint."

Palmdale School District Trustee Jeff Ferrin added, PSD's green initiative will also provide long-term energy savings that can be redirected to fund

The solar power installation is engineered to produce green electricity for the PSD, which will realize numerous benefits from its initiative to achieve energy independence. In addition to substantially reducing greenhouse gas emissions, the installation will save the PSD millions of dollars over the term of a 20-year Power Purchase Agreement (PPA). The solar project will provide more than 80% percent of the school district's electrical needs, while the PPA will lock in stable energy costs and help to reduce its expenditures on electricity. Southern California Edison will supplement the school district's remaining energy requirements. Finally, the project will provide shade for school site parking lots.

"The Palmdale School District project we are celebrating today represents another successful example of the PsomasFMG development model for institutional clients that are faced with state-mandated budget cuts and have an urgent desire to reduce energy costs," said Paul Mikos, executive vice president. "Our company has the ability to virtually provide 100 percent project financing for institutional and government clients that are seeking energy independence within a clean energy environment."

The solar project features an installation of 25,536 PV panels that are mounted atop steel-frame canopies and provide shaded parking for 1,625 vehicles. Schools that will be generating solar power include the Aerospace Academy, Barrel Springs, Buena Vista, Chaparral, Cimarron, Desert Rose, Desert Willow, Golden Poppy, Joshua Hills, Juniper, Los Amigos, Ocotillo, Palm Tree, Palmdale Learning Plaza, Quail Valley, Shadow Hills, Summerwind and Tumbleweed.

Recently recognized by the California Environmental Protection Agency for its exemplary and innovative green solutions, PsomasFMG is underway on several turnkey installations that will generate up to 20 megawatts of green energy for school districts and public agencies.

Earlier this year, the fast-growing developer completed work on a $52-million, 10-site, 9.6-megawatt project for the Antelope Valley Union High School District that is currently the largest school-based solar power system to date in the United States. This fall, the company will begin construction on several new projects totaling an additional 10 megawatts, including a $20-million, 3.6 megawatt solar power installation at six sites in Orange County for the County of Orange.

About Palmdale School District

With more than 21,000 students, Palmdale Elementary School District is the fourth largest elementary district in the state of California. It offers K-6, K-8, charter and intermediate schools. Encompassing over 75 square miles, its boundaries reach from 25th Street West to 80th Street East and from Avenue U in the south to Avenue M to the north. Students who have completed the 8th grade they will attend high school in the Antelope Valley Union High School District.

About PsomasFMG

Based in Huntington Beach, CA, PsomasFMG provides affordable solar systems to its clients by utilizing a combination of engineering know-how, private investor financing, and federal and state subsidies. The company is led by a diverse group of veteran CEOs who have managed numerous ventures through complete business lifecycles.

PsomasFMG has the ability to provide turnkey solar solutions from project conception and system design to financing, installation, operations and maintenance. For more information about PsomasFMG, go to http://www.psomasfmg.com or contact Ron Demeter: rdemeter@mww.com