Capital Dynamics, Sol Systems Financing Renewable Energy Projects Throughout the US

Oct 20, 2020 04:26 PM ET
  • Capital Dynamics, an independent worldwide exclusive possession monitoring company, today revealed that the joint endeavor entitled Sol Customer Solutions between its Clean Energy Infrastructure (CEI) business as well as Sol Systems, among one of the most seasoned solar financing and growth systems in the United States, has actually secured a Distributed Generation (DG) Tax Equity Commitment from Bank of America.

Sol Customer Solutions is a collaboration concentrated on giving large swimming pools of institutional capital straight exposure to the DG market, a section that offers several of one of the most competitive as well as engaging renewable resource services for commercial, community, and also educational customers. The program will efficiently fund a robust pipeline of DG opportunities originated and also established by the Sol Customer Solutions joint venture.

The First Tranche Funding under the Tax Equity Commitment occurred in July of 2020 and seeded the initial twenty projects amounting to around 30 megawatts (MWdc). The First Tranche Funding will bring these projects to considerable completion and serve as a precedent for succeeding funding tranches.

Consisted of in the First Tranche Funding were the Amazon ACY2, a 5.5 MWdc roof solar project on the Amazon satisfaction center situated in New Jersey; Altamont, a 645 kWdc ground-mount solar project in Illinois, supplying power to the City of Altamont via a power purchase contract (PPA) with Illinois Municipal Electric Agency (IMEA); and American Bottoms, a 1.8 MWdc ground-mount solar project in Illinois supplying power to Sauget Sanitary Development & Research Association (SSDRA). All of these projects were created by Sol Customer Solutions and also accomplished business operations in August and very early September.

The First Tranche Funding also included the 20.7 MWdc Walmart Portfolio, which consists of seventeen roof as well as ground mount projects that supply power to Walmart Supercenter and distribution centers throughout Illinois. The profile was established by SunPower and also obtained by Capital Dynamics in 2019. All projects in the Walmart portfolio are anticipated to achieve industrial operations before completion of 2020.

The Second Tranche Funding under the Tax Equity Commitment took place in September of 2020 as well as seeded an additional 4 projects. Included are Rock Falls, a 1.3 MWdc ground-mount solar project in Illinois, supplying power to the City of Rock Falls through a PPA with IMEA, and also 3 additional Walmart projects in California established by Sol Customer Solutions totaling 2.4 MWdc. Added funding tranches are expected this year; including approximately nine projects currently owned by Capital Dynamics (done in building and construction). The Tax Equity Commitment is structured to proceed beyond 2020, with the purpose of financing almost 76 MWdc of projects by this time next year.

"Distributed generation is a foundation of our financial investment strategy going forward, providing our quickly expanding base of energy clients with a wider set of remedies to enhance our customized utility-scale renewable energy offerings. Together with Sol Customer Solutions, we have the ability to deliver the highest quality profiles of gotten, distributed solar and storage properties, offering our financiers accessibility to a distinguished set of possibilities in this vital part of the US energy change," stated Tim Short, Managing Director, Clean Energy Infrastructure at Capital Dynamics in New York.

Sol Customer Solutions commemorated its very first effective project conclusion with Capital Dynamics previously this year with the commissioning of Scottsbluff, a 5.2 MWdc ground-mount solar project in Nebraska. Scottsbluff is providing power to the City of Scottsbluff via a PPA with Nebraska Public Power District.