Green2V Announces $1 Billion Solar Investment in New Mexico
Solar energy startup, Green2V, announced a billion dollar "Sand to Kilowatts" initiative that will begin with a multi-structure campus in Rio Rancho and expand to other cities in New Mexico. At completion the $1 billion enterprise will include multiple manufacturing sites and employ 3000 people statewide. A $500 million investment will be made in Rio Rancho where the Green2V campus will include corporate offices, a solar cell manufacturing facility and glass factory. The Rio Rancho campus will employ up to 1500 employees with an annual payroll of $64 million.
Unlike other solar energy business models that focus on either energy products, energy production or energy finance, Green2V will engage in elements of all three endeavors. "We call our approach ’Sand to Kilowatts’. We manage every aspect of a solar generation installation, from the sand to produce wafers to the financing of large projects," said Green2V CEO, Bill Sheppard.. "We simplify everything and improve cost for the customer every step of the way."
The financial partner in the project is GP3 Ltd. from Los Angeles. GP3 is led by CEO George Peters who is a 38 year veteran of the energy business. The company has committed to the purchase the first round of industrial revenue bonds issued by the City of Rio Rancho. The proceeds will finance the development of the Green2V project.
"The demand for solar energy is already outpacing the available supply and infrastructure." said Peters. "Green2V has the business model, management experience and the vision to intersect the market at the most opportune time. We are excited to be part of that journey."
That journey will continue with a groundbreaking in May and a target date of first panel out by the first quarter of 2011. Green2V states that it will expand to other New Mexico sites when business conditions warrant.
Green2V states that it is a privately owned green energy company that is uniquely positioned to provide financing, energy production and manufacturing of solar energy components. The company states that it will provide an uninterrupted supply of products and is the only company creating a vertical infrastructure that addresses sourcing through the complete "Sand to Kilowatts" solar energy process.