On Thursday, Shares of SolarCity Corp (NASDAQ:SCTY), gained 2.14% to $48.12.
Kaua’i Island Utility Cooperative, has signed a power purchase agreement (PPA) with SolarCity (SCTY) for electricity from the first utility-scale solar array and battery storage system designed to supply power to the grid in the evening, when demand is highest.
The projected SolarCity project next to KIUC’s Kapaia power plant is believed to be the first utility-scale system in the U.S. to provide dispatchable solar energy, meaning that the utility can count on electricity being available when it’s needed, even hours after the sun goes down.
The 52 MWh battery system will feed up to 13 megawatts of electricity onto the grid to “shave” the amount of conventional power generation needed to meet the evening peak, which lasts from 5 p.m. to 10 p.m. By using the solar energy stored in the battery instead of diesel generators, KIUC will reduce its use of imported fossil fuels and also cut its greenhouse gas emissions.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.
Shares of FleetCor Technologies, Inc. (NYSE:FLT), declined -0.41% to $151.31, during its last trading session.
FleetCor Technologies, declared the appointment of two new business unit executives.
Greg Secord has been designated President, Comdata North America Trucking (NAT). NAT serves the nation’s trucking lines with the iconic Comdata fuel card. Greg joins FLEETCOR from ADP, where he was most recently responsible for all ADP Canada operations. Preceding to his 20 year career with ADP, Greg held sales and marketing administration roles with Canon and Xerox. Greg holds a BA from The University of Western Ontario and an MBA from Duke University – Fuqua School of Business.
FleetCor Technologies, Inc. provides fuel cards and workforce payment products and services in North America, Latin America, Europe, Australia, and New Zealand. It sells a range of customized fleet and lodging payment programs; and offers card products to purchase fuel, lodging, food, toll, transportation, and related products and services at participating locations.
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