SunVest Closes on $60 Million Construction Loan Facility
Funding will support 50MWdc of community solar assets across three states.
Chicago, August 28, 2023 – SunVest Solar LLC, a leading independent, vertically-integrated renewable energy business, is pleased to announce the closing of a $60 million construction loan facility. The construction loan facility will support the ongoing construction of up to 50MWdc of community solar assets across Illinois, Maine and Minnesota through the remainder of 2023 and into 2024. All the projects under the facility will be owned and operated by SunVest, bringing its total assets under management to over 125MWdc.
“We are excited to establish this new financing facility which provides a flexible capital solution as we continue to convert our project pipeline into operating assets under management,” said Bram Walters, CEO of SunVest Solar.
SunVest’s growing portfolio of community solar projects will provide subscription opportunities for residents and businesses alike to participate in the renewable energy transition, while also fostering economic growth within their communities. SunVest continues to build long-term relationships with community solar subscribers, utilities, system operators, developers and subscription managers across all national markets, with a specific near-term focus in Illinois, Maine, Minnesota and New Mexico.
About SunVest Solar, LLC
SunVest is a rapidly growing leader in renewable energy, establishing itself as a vertically integrated distributed generation platform with expertise across the value chain, including development, construction, financing and operations. SunVest is advancing an industry-leading pipeline of greater than 2 gigawatts of development assets, with a growing portfolio of assets under management. SunVest is headquartered in Chicago, Illinois and metro Milwaukee, Wisconsin. Learn more at www.sunvest.com.