Retail Supplier Affiliate Named Exclusive Partner By Financer For 100 MW Of Community Solar Developments -- EnergyChoiceMatters.com

Retail Supplier Affiliate Named Exclusive Partner By Financer For 100 MW Of Community Solar Developments

March 18, 2022

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Reporting by Paul Ring • ring@energychoicematters.com

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Sol-REIT, LLC announced what it termed an exclusive partnership with Source Renewables to develop and finance over 100 megawatts (MW) of community solar development projects, focused within the Northeastern United States

Source Renewables will develop the projects. Sol-REIT will provide capital to Source Renewables for construction and long-term financing of solar projects in their pipeline.

"This partnership disrupts a highly fragmented solar finance market that has traditionally disadvantaged and discouraged middle-market developers due to inequitable and typically inefficient access to capital," the companies said

"Sol-REIT’s financial structure for renewable energy development is first-of-its-kind. It provides access to construction capital and long-term financing for middle-market solar developers who seek to retain equity in their projects. This financing allows developers to maintain ownership beyond Notice-to-proceed (NTP) improving the economics for developers. Sol-REIT applies the proven and robust REIT financial structure used in the commercial real estate industry, to empower solar developers and streamline funding timelines via its proprietary fintech portfolio management system," the companies said

Source Renewables is a sister company to Source Power Company, which offers various community solar services to both developers and customers, including subscription and billing management, in addition to providing retail energy supply

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