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Sunwealth™ Announces First Closing of Solar Impact Fund

Sunwealth™ Announces First Closing of Solar Impact Fund

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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.

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.

To learn more about Sunwealth, the Solar Impact Fund, and investing in the future of energy, please visit www.sunwealth.com.

About Sunwealth

Sunwealth Power LLC is a pioneering clean energy firm aiming to unleash the power of commercial solar by delivering meaningful returns and tangible impact to its growing community of investors. Sunwealth’s proprietary methodology identifies high-performing, high-impact projects, and its Solar Impact Fund allows for rapid scaling of commercial solar investment, giving investors the unique opportunity to invest directly into a diversified pool of solar assets – generating returns and clean energy faster. Visit www.sunwealth.com.

Under no circumstances is the information contained herein to be considered an offer to sell or as a solicitation of an offer to buy any financial product. Investments are offered only via definitive transaction documents and any potential investor should read such documents carefully, including all the risk factors relating to the investment, before investing.

Anand Gupta Editor - EQ Int'l Media Network

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