SunVest Solar Acquires and Energizes Three Community Solar Projects in Illinois, First of Many Nationwide
Pewaukee, Wisconsin, September 15, 2022 – SunVest Solar LLC recently flipped the switch on three Illinois community solar projects the company acquired from another developer. The acquisitions were the first of many planned nationwide for the Wisconsin-based developer as it progresses toward its goal of helping businesses, municipalities, residents and utilities transition to clean electricity.
“Community solar is a key component for states, like Illinois, with plans to transition to renewable energy,” said Tim Polz, Chief Development Officer of SunVest Solar LLC. “We are actively initiating and acquiring community solar sites in 14 states, with more to come.”
Two of the Illinois community solar sites, located in the communities of Glenwood and Mazon, are in Commonwealth Edison territory. The third site, located in downstate Elba, is in Ameren territory. The Glenwood site is believed to be the first community solar project to energize in Cook County. All three sites are 2MWac.
Projects like these are made possible from state incentives and programs, including Solar Renewable Energy Credits (SRECs) and the Illinois Climate and Equitable Jobs Act (CEJA), signed into law by Governor Pritzker one year ago today on Sept. 15, 2021. SunVest, which builds, owns, and operates large scale community solar sites, is prepared to expand along with the Illinois market.
“SunVest is making distributed solar more accessible to residents and businesses while creating jobs and training a diverse workforce,” Polz said. “We establish long-term relationships with landowners and industry partners and plan to acquire, own and operate community solar projects.”
SunVest has acquired nearly 90MWac of projects in Illinois in conjunction with another developer, a partnership that has to-date resulted in nearly 74MWac of total solar projects energized or achieved key notice-to-proceed milestones. The company’s dynamic development and construction team, combined with strong financial partners put SunVest in a position to acquire additional assets in the near future.
About SunVest Solar LLC
SunVest Solar is one of the nation’s largest distributed solar developers. We develop community solar projects in key markets nationwide, distributed solar for commercial/industrial customers, as well as solar assets for utilities, co-ops, municipalities and others. To learn more, visit www.sunvest.com.