Closing of Sunwealth™ 2017 Solar Impact Fund Signals Increased Investor Engagement and Opportunity
Innovative financing for commercial solar projects gives investors
access to healthy returns and quantifiable impact
BOSTON–(BUSINESS WIRE)–Sunwealth,
the pioneering clean energy investment firm headquartered in Somerville,
Massachusetts, today announced the closing of its 2017 Solar
Impact Fund.
Sunwealth’s innovative financing model enables direct investment via
bond and tax equity offerings in commercial solar projects that combine
attractive risk-adjusted returns with measurable social and
environmental impact.
Sunwealth maximizes opportunities in the commercial solar market, which
has remained vastly untapped. The firm’s approach decreases project risk
and gives accredited investors access to turnkey distributed solar
investment opportunities, solving for the two primary reasons the
commercial market has lagged behind residential and utility scale solar:
the lack of a credit rating system and project transaction costs.
“The Solar Impact Fund and Sunwealth are accelerating investment in a
diversity of commercial solar projects in a way that other financing
vehicles have not been able to achieve,” Jonathan Abe, Chief Executive
Officer at Sunwealth said. “We are enabling local organizations to go
solar, reduce carbon emissions, cut energy bills, and create jobs while
providing investors a way to directly invest in high impact, high
performance solar assets.”
Through its proprietary underwriting process and partner network of
solar developers and installers, Sunwealth identifies and provides
capital to high-performance projects traditionally overlooked by
conventional sources of capital. Projects within the Fund provide clean
energy to LEED certified office buildings, not-for-profit organizations,
places of worship, educational facilities, municipal buildings, and
affordable housing. Projects in the 2017 Fund include:
-
Sika Sarnafil’s U.S. headquarters in Canton, MA in partnership with
the U.S. team of multinational developer Centroplan. -
Class A office buildings in Waltham, MA and Lexington, MA, built by
United Solar Associates of Malden, MA with rooftop racking systems
provided by PanelClaw of North Andover, MA. -
Urban League of Massachusetts in partnership with Boston-based
developer Resonant Energy. -
City of Holyoke Housing Authority in partnership with Holyoke Gas &
Electric and constructed by Solworks Energy located in Ayer, MA.
The Solar Impact Fund financed and manages 15 projects, some with
multiple installations, throughout New York and New England. Combined,
the projects will create approximately 80 job years for skilled,
green-collar positions among locally-based solar firms, produce more
than 1,700 metric tons of carbon offset per annum, and deliver power
customers over $2,100,000 in energy savings.
To learn more about Sunwealth, the Solar Impact Fund, and investing in
the future of energy, please visit www.sunwealth.com.
About Sunwealth
Sunwealth (www.sunwealth.com)
is a pioneering clean energy firm that delivers a unique investment
model designed to expand access to commercial solar. The firm’s Solar
Impact Fund is comprised of projects that deliver abundant clean energy
to diverse communities and target market-rate return potential for
investors. The Fund allows participants to forecast the impact of their
investment from the beginning – and see that impact develop in real time
through transparent monitoring and measurement tools.
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.
Contacts
Longview Strategies
Alex DeBlois, 978-225-9253
[email protected]