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In another sign that Wall Street sees green in green energy, Morgan Stanley will finance and own solar arrays to be installed by SunPower (SPWR) at seven Wal-Mart stores in California that will produce 4.6 megawatts of electricity. Morgan Stanley (MS) will then sell the greenhouse gas-free power back to Wal-Mart (WMT) at market or below market rates as part of a long-term contract. Last month Wal-Mart announced that it was installing solar arrays at 22 of of its stores. Wal-Mart will keep any renewable energy credits associated with the production of green electricity. Those credits may have value one day if California establishes a carbon trading market as part of its limit on greenhouse gas emissions. Morgan Stanley’s move shows that Wall Street behemoths are moving into the green energy financing market, along with players like GE Energy Financial Services (GE) and pioneering outfits like MMA Renewable Ventures (MMA).

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