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Syncarpha Capital is a New York based private equity firm dedicated to developing, owning and operating commercial and utility scale photovoltaic (PV) solar energy systems throughout the United States and Canada. Co-founded by Cliff Chapman and Richard Turnure, the firm was launched to capitalize on the tremendous opportunities in the alternative energy sector and to create a vehicle for investing in assets with long duration, excellent credit quality and high risk adjusted returns.

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Syncarpha Capital and SIemens Energy, Inc. Form Partnership

Cliff Chapman

Source: PR Newswire

SIEMENS RECEIVES PHOTOVOLTAIC POWER PLANT ORDER IN THE USA

Siemens Energy, Inc. has been selected by Syncarpha Capital to provide engineering, procurement and construction services for a 3-megawatt-peak (MWp), ground-based PV power plant in Eastampton, New Jersey. Construction is scheduled to begin in May 2011 and the plant is scheduled to go online inSeptember 2011. Syncarpha Capital, an investment company launched to capitalize on opportunities in the alternative energy sector,will finance the solar power plant.Utilizing proven Siemens technology and plant performance guarantees, the solar facility will help to satisfy New Jersey's rapidly growing demand for renewable power.  

"Siemens is proud to partner with Syncarpha Capital to install solar generating capacity in New Jersey, and we look forward to working in concert on what we expect to be the first of many such projects," stated Thomas Mart, Director, PV, Siemens Energy, Inc. "This order plays an important role in the continued development of our photovoltaic business."

Solar power is part of Siemens' Environmental Portfolio. In fiscal 2010, revenue from the Portfolio totaled about $35 billion, making Siemens the world's largest supplier of environmentally friendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide (CO2) emissions by 270 million tons, an amount equal to the total annual CO2 emissions of the megacities Hong KongLondonNew YorkTokyoDelhi and Singapore.

The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas. In fiscal 2010 (ended September 30), the Energy Sector had revenues of approximately EUR25.8 billion and received new orders totaling more than EUR30.1 billion and posted a profit of more than EUR3.5 billion. On September 30, 2010, the Energy Sector had a work force of more than 88,000. Further information is available at: www.siemens.com/energy.

Syncarpha Capital (New York) is an investment company committed to removing the roadblocks to widespread adoption of solar energy by utilities, commercial and government electricity buyers. With a private equity fund focused on  solar projects, Syncarpha works with a variety of organizations to finance and build on-site solar systems that reduce energy costs and ensure a cleaner, greener future. Further information is available on the Internet at: www.syncarpha.com

SOURCE Siemens Energy, Inc.