Constellation Energy (CEG) Commits $90 Million To Commercial Solar Projects

Constellation Energy (CEG) announced today that it will commit $90 million to the development of commercial solar projects.  In order to capitalize on the benefits of government funding Constellation will only fund project that begin before mid 2010 and are at least 500kW.  About $18 million in funds have been committed to projects that will begin development soon in Maryland and New Jersey. 

Michael Smith, VP of Green Initiatives For CEG, said, “Constellation Energy’s solar capital commitment provides the resources to make photovoltaic power a simple and economical proposition for commercial and governmental customers who want to support clean, renewable energy at their facilities.  Our solar business model gives customers a single source for every step of the process, from financing to planning and permitting, construction and long-term maintenance of the system. By working with Constellation Energy, customers can make meaningful and immediate impacts on their carbon and sustainability goals.”

Shares of CEG are up about 3% today, but continue to look it’s topping out as it trades below the 50 day moving average.  Sell volume has been particularly heavy recently.

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