Envision Solar Acquires Generating Assets LLC

LA JOLLA, Calif., Nov. 20 /PRNewswire/ -- Envision Solar International Corporation, the leading provider of solar integrated building systems and designs, today announced the acquisition of Generating Assets LLC (GA), a San Francisco-based solar development company, and the appointment of Karen Morgan as president.
With additional operations in Darien, Connecticut, San Francisco and Seattle, Envision Solar, which specializes in the turnkey design and installation of solar shade structures for parking lots, has expanded its service offerings and capabilities to include a financial solutions group,
GreenShade Network(TM). Envision Solar and the GreenShade Network will leverage the breadth of financial experience to enhance and accelerate partner financing and project execution.
"The Generating Assets acquisition, with Karen Morgan coming onboard as president, represents a major advancement in Envision Solar's international expansion plan and our ability to offer the full range of services in solar development projects," said Robert Noble, Envision Solar's founder and CEO. "We're meeting the challenge to get more solar out there."
Founded by Karen Morgan in August 2006, GA targets projects under one megawatt in size throughout California and brings $30M in power purchase agreements and pending projects to Envision Solar. Envision Solar will serve as prime contractor on all GA projects already underway. The company is staffed by LEED accredited architects, has its contractor's license and truly mitigates the challenges of integrating solar systems into corporate clients' renewable energy portfolios. Two former members of the GA team, Todd Grenich joins as vice president, finance and Kent Colwell, former tax equity executive with Transamerica, joins Envision Solar's advisory board as senior advisor, tax equity.
"Our GreenShade Network represents the intersection of transportation, renewable energy and the concept of shade. Drivers have long recognized the value that shade provides, and now we have created unique financial models around this amenity and solar power. We see a bright future in this space and Envision Solar is prepared to lead the movement," said Morgan.
"Bringing GA and Envision Solar together to execute our GreenShade Network projects provides a powerful platform for deploying more projects, and ultimately ensuring a significantly reduced cost per watt of clean energy."