Soltas Energy CEO at MIT Private Equity Symposium: "Soltas Energy Will Near $1 Per Watt in 2013"
Soltas Energy, a national owner and operator of solar power plants, announced that CEO Andrew Barron Worden participated recently as a panelist at the Annual MIT Private Equity Symposium energy panel.
Mr. Worden and moderator David McLean, Visiting Assistant Professor of Finance at MIT Sloan, along with other panelists, Mr. Chris Picotte, Managing Director of ArcLight Capital Partners; Mr. Tuan Tran, Vice President of Intervale Capital and Mr. Phil Deutch, Managing Partner of NGP Energy Technology Partners. engaged in an informative discussion on the present and future of energy solutions.
During the conversation, Mr. Worden discussed the background of Barron Partners, the benefits of solar to the economy and local employment, and rapid development of solar energy in commercial and industrial markets.
“Barron Partners founded Soltas Energy last year to build, own and operate solar power plants in the U.S., Mr. Worden said, “The key in this business is to have the financing to construct solar power plants. We have been utilizing the investment money from our private equity fund Barron Partners. Going forward, we will also seek outside debt investors to help finance the rapid growth of the business.”
“We have the lowest cost structure among other existing solar companies. Currently, with incentives, we have reduced our cost to build our solar power plants to $1.70 per watt. We believe that solar will become attractive without any federal or state driven incentives in 12-24 months. At that time, we expect to reduce our total installed cost to about $1 per watt. Solar will for Soltas Energy truly achieve grid parity then.”
Barron Partners, LP is an international private investment fund with a primary focus on profitable cleantech companies. Barron has invested over $450 million of its capital since its formation in 2002. For more information about Barron Partners, visit www.barronpartners.com.
Soltas Energy Corporation
www.soltasenergy.com
