Empower Energies (“Empower” or the “Company”), a leading clean energy project solutions company is currently conducting diligence on photovoltaic (PV) solar projects to fill the new Distributed Generation Fund (DG Fund) that it closed on November 23 with a leading global strategic tax-equity investor and a major US sponsor-equity investor.
Solar developers with projects in need of finance should contact Empower Energies immediately. A number of projects are already in the queue and completing diligence for financing, with construction and commissioning scheduled during Q4 2016 and throughout 2017-2018.
“Partnering with developers is our very highest priority,” said Len Jornlin, Empower Energies CEO. “The new DG Fund enables Empower to offer a complete ‘capital stack,’ including development capital, construction finance, and project buy-outs at different points during the development process from NTP to COD, depending on the needs of the co-developer and the profile of the project. The fund also creates efficiencies for customers, simplifying the project approval process, and enabling a single point of decision-making, accelerating development.”
The new fund features continuous financing that will enable Empower and its co-developers to efficiently deliver rooftop, ground mount, and canopy PV solar projects for Commercial and Industrial (C&I) customers, Municipalities, Universities, Schools and Hospitals over the next two years.
“Ideal projects for our new DG Fund range in size from 500 kW – 20 MW, and have an investment-grade off-take contract already in place,” noted Bill Morrow, Empower Energies EVP Business Solutions.
Empower Energies currently seeks high-quality PV solar projects in most major SREC and non-SREC solar markets across the United States, including Arizona, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, New Jersey, New Mexico, New York, North Carolina, Ohio, Rhode Island, South Carolina and Washington, DC.