Pewaukee, Wisconsin, December 3, 2021 – SunVest Solar LLC, a leading Midwest solar energy developer, announced today that it closed on a tax equity financing deal worth approximately $28 million. The tax equity financing will fund the development of three large community solar gardens in Illinois and Minnesota. Each project is in an advanced stage of development and expected to reach commercial operation in 2022.
“This tax equity financing is a vital milestone in achieving our growth goals for community solar projects as we expand our project portfolio in Illinois and Minnesota,” said Kirk Kindred, President of SunVest Solar. “Both states offer incentives and market structures that properly value solar energy. These programs help developers like us build, own and operate cost-effective solar solutions that promote environmental stewardship, job growth, and energy independence.”
Community solar projects allow subscribers to invest in the development of solar power without the need to install solar panels on their individual property. Residential customers, commercial and industrial building owners, municipalities, and utilities can generate local, affordable, renewable energy for themselves and their neighbors, making clean energy accessible for all.
The transaction was arranged in collaboration with financial partner Greenprint Capital Solutions. Greenprint is an experienced firm specializing in direct investments into infrastructure projects that deliver lower cost clean energy and create jobs. Tax equity will be provided by an unnamed partner.