Enhanced Capital Closes Financing of 10.25 MW Solar Portfolio

Enhanced Capital has financed a solar energy portfolio worth 10.25 MW in collaboration with GSPP, generating clean energy in California, New York, etc.

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.

The investment firm provided USD 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 the 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 MW of solar assets under management or construction, GSPP is a nationally recognized commercial solar developer, owner and operator. The company specialises in providing solar energy systems for businesses, schools, nonprofits and municipalities

“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.”

Recently, we reported that Nexamp, a leading developer of community solar programs across the US, had been selected to build three new projects totaling more than 11 MW in New Jersey as part of that state’s Community Solar Energy Pilot Program. These new community solar sites are expected to make it possible for residents to save money on their electricity costs while supporting the growth of renewables in the move toward New Jersey’s goal of 100 percent clean energy by 2050.

Projects awarded to Nexamp include two 5 MW arrays that will be constructed on a closed Woodbine landfill and a 1.24 MW facility on a rooftop in South Brunswick Township.