Sunwealth Announces First Closing of Solar Impact Fund


General News - Aug 15, 2017

Sunwealth , an innovative clean energy investment firm bringing commercial solar to scale, today announced the first tranche closing of its Solar Impact Fund. The Fund offers investors two compelling ways to invest – via tax equity or a bond offering – in the vastly untapped commercial solar asset class.

Sunwealth seeks to create wider-reaching social and environmental impact – without sacrificing financial return – by combining commercial solar projects for credit-worthy businesses, municipalities, and non-profit organizations into a single investment vehicle.


Related Research on ASDReports.com:
2017 Global Outlook of the Water Industry

The first tranche is comprised of six projects providing renewable solar energy to fire departments, schools, and businesses in New York and New England, including Sika Sarnafil’s U.S. headquarters in Canton, Massachusetts and the Montessori School of Northampton, Massachusetts. All six projects were recently placed in service, and to date the Solar Impact Fund has exceeded performance expectations.

The second tranche, with a bond offering of $1.5M and tax equity offering of $1M, will include nine additional projects to build on the Solar Impact Fund’s initial success.

“ Commercial solar is built on proven technology, high technical potential, and is a driving force in the decentralization, de-carbonization, and democratization of our energy grid,” said Jonathan Abe, Chief Executive Officer at Sunwealth. “ The Solar Impact Fund provides investors with a simple, transparent, and predictable investment. They know which projects they are funding and can track the measurable impact they are delivering.”

The Fund’s first two tranches will produce more than 1,691 metric tons of carbon offsets per annum, over $2,115,000 in energy savings for power purchasers, and generate more than 50 job years for sophisticated positions among locally-based solar firms.

Sunwealth invests alongside its investors by owning and operating each project within the Solar Impact Fund. The firm’s technology-driven insight paired with a proprietary underwriting process identifies high-performing projects that can generate meaningful financial returns. The standardized and pooled-project approach dramatically reduces transaction costs and gives investors access to a diverse set of projects that combat climate change and strengthen communities through job creation and access to clean energy.

Source : Sunwealth

Published on Global Energy World: Aug 15, 2017

 
zpsk