Waiting for our Solar Savings to Begin at Marinwood Pool

It looks like our savings with the SolED solar project will NEVER HAPPEN.   Recent price increases with electrical costs from PGE have eliminated all potential saving with our twenty year contract.

Marinwood will now be locked into a bad deal for TWENTY YEARS.  The expensive custom solar carport at the Marinwood Pool many never fully recover its cost. SaveMarinwood di

warn the CSD about the SolEd project which was first suggested by former Marinwood CSD Cyane Dandridge in 2013 (and who interestingly profited from the deal).   The public recognized the abnormally large cost of the power purchase agreement (PPA) vs an outright purchase.   We paid anywhere from four to seven times the cost over a straight purchase. Our initial capital investment could be fully paid off in seven years.

David Kunhardt, CEO of SolEd formed a company a few months prior to bidding on the project.  His financier, Richard Dovere, was a 29 year old entrepreneur from New York City who "specialized" in unique solar financing arrangements.  SolEd had a similar contract with the City of St Helena and fired SolEd just about a month before Marinwood signed a contract. St. Helena was upset at the broken promises and delays.   

Marinwood CSD was warned and provided evidence yet despite all commonsense warnings voted unanimously to enter into a twenty year contract with Soled and the SSGgroup.

Everyone said that we were getting "free solar energy" with the PPA.  Now it looks like we got a TWENTY YEAR lesson about the word "free".

Eric Dreikosen, Marinwood CSD manager arrived after the initial consulting contract was signed but faithfully worked for over a year during the contract delays and the extended construction delays to see the deal through.  He never once lost faith in the project or questioned the soundness of the proposal.

Oh well.

We now have more large projects in the pipeline. Will the Marinwood CSD repeat their mistakes?   The kitchen in the firehouse and community center,  replacing the maintenance shed and stream erosion repair could cost the district over a million dollars.

Will Marinwood CSD seek outside advice, serious consider cost savings, vet the qualifications of our business partners?

Let's hope so.

The Marinwood CSD got burnt 

The Shady Marinwood CSD Solar Contract (It is not too late)

The "World Headquarters" of C2SGG and Richard Devore, 29 year old financial entrepreneur in New York, New York who will be providing Marinwood CSD financing for SolEd Solar contract.

As followers of this blog know, Marinwood CSD entered into a very high priced Solar Power Purchase Agreement with SolEd Benefit Corporation that was facilitated by former Marinwood CSD manager Cyane Dandridge in a "hush hush, no bid" deal in November 2012.  

The project has had many delays due to SolEd Benefit Corporation and the lack of financing.  In March 2016, the board unanimously approved the contract and already the contract is TWO MONTHS behind schedule and in violation of contract terms.

The board was warned about the financial instability of the SolEd and the blistering report by the City of St Helena who summarily fired SolEd Benefit Corporation in November 2015 after a years worth of broken promises.

Marinwood CSD will be paying up to SEVEN TIMES the cost of competitive solar systems  ( 20 cents plus per KWhr vs 3.5 cents per/KWhr of a purchased system).  There appears that they used NO INDEPENDENT FINANCIAL ANALYSIS in evaluating the system and instead relied solely on the representations of the salesmen, Jonathan Whelan of Optony and David Kunhardt of SolEd Benefit Corporation

The contract will last for TWENTY YEARS.

The interim financier is 29 year old Richard Devore has an address at a lawyers office in New York City (above). He has had a remarkable number of business ventures in his young career.  The contract for Marinwood is held by his Delaware Corporation formed in May 2015 and his "parent company" was formed a few months earlier.

The long term financier has not been identified nor are the ultimate terms of the twenty year contract known.

Does this sound like a smart decision for the Marinwood CSD to you -especially when we have the top solar companies in the world right here in the Bay Area?  

This is why informed residents object to this SolEd solar contract and ask that the Marinwood CSD cancel it.  They will save the district tens of thousands of dollars if they purchase the system outright. The Sonoma Water District was in the same SEED program, cancelled it and realized over $100,000 savings with a direct purchase.

Come to the Marinwood CSD meeting on June 14, 2016 at 7:30 PM to voice your objection to the SolEd Solar contract.  Encourage a more cost effective renewable energy solution 

(This article was published in 2016.  The solar panels were installed in September 2016 after months of mysterious delays.  It is still not active as of this writing.  No long term financier of the project has ever been identified and some believe that SolEd and SSG2 group is unable to get financing.  This is a disaster was predicted by several citizens prior to approval. In November 2015, the same contract SolEd was dismissed for performance by the City of St Helena.  The warning signs were clear but the Marinwood CSD approved and Eric Dreikosen, Marinwood CSD manager has provided excuses ranging from PGE failure to perform and months delay to permitting issues.  Both have been dismissed as complete fabrication and/or exaggeration.  A request for information under the California Records Act has been stonewalled for months.  The responsible parties for this disaster should be dismissed.)

Richard Dovere, the 29 year old that Marinwood CSD never met. (before a twenty year commitment).

SolEd Benefit Corporation and its partners expect to win $3.3 million dollars in tax credits for the SEED project.

David Kunhardt of SolEd Benefit Corporation inked a deal with Marinwood CSD on December 8, 2015 and with a blink of an eye, he assigned our contract to Richard Dovere, a 29 year old "financial entrepreneur" from New York.  C2 Beta Holdings, LLC, a Delaware Corporation will be responsible for keeping their end of the Solar bargain with Marinwood CSD. On November 10, 2015, the City of St Helena, Ca cancelled their contract with SolEd due to Non Perfomance.     The tape of this meeting has "mysteriously" been blocked since reporting this event. (Why, didn't the Marinwood CSD know this?)  See the December 8, 2015 Marinwood CSD meeting with SolEd HERE

Marinwood CSD directors, Justin Kai, Leah Kleinman-Green, Bill Shea and Isabela Perry recklessly did not seek legal or financial advice prior to signing the estoppel agreement.  Marinwood CSD director, Jeff Naylor voted "no" because he felt he needed more time to evaluate the contract.

If the Marinwood CSD acts decisively, they still can remove us from the contract and commit with a well established local solar company.  Shouldn't we do business with a company that we can expect to be solvent during the twenty year commitment?  It is positively unbelievable that Marinwood CSD directors and manager did not check the bona fides on these individuals, companies, legal implications and financial stability...

Would you enter into a twenty year commitment with this man?

Here is Richard Dovere's Linked In profile.  He doesn't stay at one place long.  His company C2 Beta Holdings, LLC is a Delaware Corporation that was formed in May 2015 especially for the SEED contract. Delaware Corporations offer notoriously weak protections for the public.

Richard Dovere
Managing Partner at C2 Special Situations GroupNew York, New York 
Investment Management
Current
C2 Special Situations Group
Previous
Healthy Planet Partners,
Coronal Group LLC,
Adamas Energy Investments
Education
University of Wisconsin-Madison
Websites
Company Website

500+connections



Experience

Managing Partner
C2 Special Situations Group
October 2014 – Present (1 year 3 months)Greater New York City Area


Managing Partner
Healthy Planet Partners
April 2013 – September 2014 (1 year 6 months)Greater New York City Area


Vice President
Coronal Group LLC
April 2012 – April 2013 (1 year 1 month)Greater New York City Area

Member of the Investment Committee.


Founder
Adamas Energy Investments
September 2009 – September 2012 (3 years 1 month)Greater New York City Area