WASHINGTON,
April 25,
2024 /PRNewswire/ -- NT Solar, a national tax credit
syndicator with a mission to provide affordable clean energy access
through investments in renewables and battery projects with strong
ESG attributes, is thrilled to announce a series of four strategic
solar tax credit (ITC) investments across the country, establishing
new partnerships, building upon successful ongoing relationships,
and continuing the growth of our network of investment
partners.
These investments supported the development of 4
solar projects, including the largest solar installation to date in
Rhode Island, as well as various
community solar projects in New
Jersey, New York, and
California. Once in operation,
these portfolios will bring the country closer to a carbon-free
future while providing renewable energy to corporate and community
solar subscribers and municipal, university, school, and hospital
(MUSH) offtakers.
New & Returning Partnerships Generate Lasting
Impacts
NT Solar's recent successful investments were
with new development and investment partners, New Energy Equity and
Revity Energy via Nelnet, Inc., as well as returning partner
Dimension Energy, showcasing the company's capacity to attract
fresh collaborations while maintaining longstanding relationships
built on trust, reliability, and the delivery of exceptional
results.
"We are truly honored to deepen our partnership
with NT Solar through these latest solar investments," said
Patrick Schaufelberger, Senior
Vice President of Project Financing at Dimension Energy. "NT
Solar's expertise in financing and their unwavering support have
been instrumental in bringing these projects to fruition."
Following an initial investment in late 2022, NT
Solar expanded its financing support of Dimension Energy projects
in both September and December of 2023. To date, this collaboration
has resulted in a project portfolio of 10 projects, representing
over 71 MWDC of community solar generation capacity in New Jersey, New
York, and California that
will collectively deliver over $1M in
annual savings to the project subscribers.
"It was a pleasure beginning new relationships
with the New Energy Equity team while continuing to build on our
strong partnership with Dimension Energy," said Alyssa Watt, Transaction Manager at NT
Solar. "These development teams are doing incredible work in
expanding accessibility to renewable energy across the
country."
"New Energy Equity's collaboration with NT Solar
through these latest solar investments demonstrates our shared
commitment to increasing access to clean energy for residents of
New York," said Jackie Chambers, Chief Investment Officer at New
Energy Equity, an ALLETE company. "It exemplifies the synergy
needed to drive the renewable energy sector forward, and we're
excited about the positive impact our partnership will have on
local communities and the environment."
With a total aggregate capacity of 152.5
Megawatts (MW dc), NT Solar's recent investments will generate
nearly 250 million kilowatt hours (kWhs) of renewable energy each
year. Not only is this enough energy to power over 33,000 homes a
year, these installations also play a crucial role in mitigating
climate change by offsetting nearly 170,000 metric tons of carbon
dioxide (CO2) emissions annually. These avoided emissions are
equivalent to the amount of CO2 produced by burning 190 million
pounds of coal or 19 million gallons of gasoline and would require
over 200,000 acres of forest to offset naturally.
Inaugural Financing Through New Impact Investment
Fund
The most recent financing in Dimension Energy's
portfolio was made possible through NT Solar's newest investor
partnership and the newly established Renewable Investing Fund. The
establishment of this fund and its successful application in
financing Dimension's multi-state portfolio underscore NT Solar's
role as a leader in renewable energy investing and its strengths in
bringing together diverse partners to support impactful renewable
energy and decarbonization projects across the country.
"We are immensely proud to have launched the new
Renewable Investing Fund with the support of our new investor
partner," said Karin Berry,
Managing Director of NT Solar. "This partnership is a testament
to our solid track record of fund management and successful
transactions, paving the way for future endeavors that will
continue to set benchmarks in the renewable energy landscape."
"As we step into this new era of growth under my
leadership, our mission at NT Solar is front and center," stated
David Clower, newly appointed
President & CEO of NT Solar. "The demand for renewable
energy solutions is at an all-time high, and we are actively
expanding our fundraising efforts to meet the increasing demand
from our robust pipeline of quality project sponsors. Our team is
dedicated to fostering the development of projects that not only
provide stable returns but also deliver tangible, positive impacts
to communities nationwide. We invite partners to join us as we
continue to innovate and lead in the renewable energy sector."
To learn more about NT Solar investment
opportunities, visit www.nt.solar
About NT Solar
NT Solar, a subsidiary of the National Trust
Community Investment Corporation, raises and manages capital for
renewable and battery storage investments that create meaningful
community impact and cost-effective energy options nationwide.
Since its inception in 2010, NT Solar has provided tax credit
financing for transactions nationwide, with a focus on the growing
Community Solar market. Our varied network of partners and
extensive experience in diligence and structuring provide our
developers with competitive pricing and stable returns for our
investors. Visit www.nt.solar to learn more.
About Dimension Energy
Dimension Energy is a leading developer, owner,
and operator of turn-key community solar solutions, having deployed
more than 400 megawatts and $400
million into clean energy assets since its founding in 2018.
Dimension plans to invest an additional $2.5
billion over the next 5 years, with more than 2.2 gigawatts
of projects currently under development across 11 states. Dimension
fosters long-term partnerships with each community it serves,
investing in local green job creation through workforce training
programs and STEM education. For additional information about
Dimension, please visit www.dimension-energy.com.
About New Energy Equity
New Energy Equity LLC, a wholly owned subsidiary
of ALLETE (NYSE:ALE), develops, finances, operates, and
manages solar power generation assets, providing clean electricity
to commercial, industrial, municipal, and utility customers under
long-term contracts. New Energy Equity has successfully developed
over 500 megawatts of solar projects and closed more than
$1.2 billion in clean energy
investments. To learn more, visit
http://www.newenergyequity.com.
About Revity Energy
Revity Energy develops, constructs, and operates
renewable energy generation facilities for the benefit of community
partners. Our customer-centric approach gives us an intimate
understanding of the needs of the communities where we develop
projects, allowing us to offer tailored, effective energy
solutions. To learn more, visit: https://www.revityenergy.com/.
CONTACT: Mike
Palien, NTCIC
PHONE: 202.588.6022
EMAIL: mpalien@ntcic.com
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SOURCE National Trust Community Investment Corporation
