Enhanced Capital closes financing for 10.25 MWdc solar energy portfolio with Green Street Power Partners
NEW YORK, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Enhanced Capital, a national investment firm, announced that it has financed a solar energy portfolio in collaboration with Green Street Power Partners (GSPP), generating clean energy in New Jersey, California, Connecticut, New York and Massachusetts through the federal Solar Investment Tax Credit program.
Enhanced provided $10.2 million in tax equity to finance 11 distinct projects comprising the 10.25 MWdc community and commercial solar portfolio. In the first year of operation, the portfolio is expected to generate 12,900 MWh of clean, renewable energy– the carbon dioxide offset equivalent of removing nearly 2,000 cars from the road. The energy output will be available to a variety of commercial, industrial and residential customers.
“Environmental sustainability and access to renewable energy are at the forefront of our mission,” said Dan Packard, Director, Renewable Energy at Enhanced Capital. “Enhanced Capital is proud to have provided the tax equity funding to make these projects a reality.”
With over 85 megawatts of solar assets under management or construction, GSPP is a nationally recognized commercial solar developer, owner and operator. The company specializes in providing solar energy systems for businesses, schools, nonprofits and municipalities. In 2019, GSPP was recognized as one of Inc.’s Top 5000 Fastest Growing Private Companies, ranking as No. 620 overall and No. 3 in Connecticut.
“We are proud to partner with Enhanced Capital to advance clean, renewable energy in the commercial and industrial sectors,” said Scott Kerner, Chief Executive Officer of GSPP. “We are excited about the benefits each system in this portfolio will bring to its respective communities, and we hope to partner with the Enhanced team on future opportunities.”
About Enhanced Capital Enhanced Capital is a leader in unlocking value for private investors seeking returns through socially responsible public investment initiatives. At the forefront of aligning private sector resources with public policy goals, we transform local economies to the benefit of both investors and community stakeholders by financing solar energy projects, historic building restorations and local businesses. Please visit www.enhancedcapital.com.
About Green Street Power Partners Headquartered in Stamford, CT, Green Street Power Partners (GSPP) is a leading national developer, financier, owner and operator of solar energy systems across the country. As we rapidly expand our solar coverage, GSPP consistently provides the best available solar technology coupled with an unwavering commitment to customer service. Please visit www.gspp.com.
