San Francisco, April 12, 2012 — Silverado Power posted $50 million in interconnection financial security for solar energy projects in California.
These deposits were made in conjunction with partner Martifer Solar, and will protect the company's position in the California Independent System Operator (CAISO) generator interconnection queue.
Silverado Power, based in San Francisco, is a wholesale solar development company created as a joint venture with Martifer Solar, a global energy and infrastructure company.
Due to limited transmission capacity, the interconnection financial security is used by utilities to support investments in the infrastructure system or grid upgrades. The financing is provided by developers with the most viable projects in the queue.
Silverado recently announced new power purchase agreements with Southern California Edison and San Diego Gas & Electric.