Achievements Demonstrate Strong Pipeline, Continued Growth of Operating Portfolio
Chicago, IL – SunVest Solar announced today that it has reached substantial completion of a nine-project, 28 megawatt portfolio in Illinois and Maine. This milestone was funded through senior debt, the transfer of over $50 million of Investment Tax Credits to an A+ rated corporate buyer and equity invested by SunVest. Today’s announcement further cements the company’s position as one of the largest distributed generation renewable energy businesses in the U.S.
“These milestones reflect the strength of our development and operations teams, the trust of our financial partners, and the consistent demand for distributed renewable energy,” said Bram Walters, CEO of SunVest. “From greenfield development to boots-on-the-ground construction through long-term ownership, SunVest continues to demonstrate that we can deliver high-quality projects at scale.”
In addition, SunVest plans to reach substantial completion on another 50MW of new solar capacity in Illinois and Minnesota, for which it will be the long-term owner and operator. The company’s portfolio of owned and operating projects is expected to reach 150MW by the end of 2025.
To support the build-out of these and other projects in its pipeline, SunVest has closed $240 million of senior and construction debt facilities this year. These facilities will support construction across the portfolio through 2025 and 2026, demonstrating SunVest’s continued growth and momentum as a national leader in distributed generation renewable energy.
