January 14, 2014
Sol Systems recently announced the successful financing of a 627 kW distributed generation solar energy project in Goshen, Indiana. Solscient Energy, a solar integrator, developer, and independent power producer developed the rooftop solar project. An Indiana utility will purchase the energy through a feed-in tariff.
This is the second transaction that Solscient closed with Sol Systems in the last year; the two firms worked together previously to secure financing for a 1.7 MW portfolio. The Sol Systems team executed a term sheet for this project on behalf of Solscient only two weeks after initial discussions.
"We're glad to make commercial solar projects like this possible by streamlining the financing process for our developer and investor clients," said Andrew Gilligan, who helps lead Sol Systems' investor advisory services. "In this case, Solscient came to us with an attractive project, and we were able move quickly with our most appropriate funding source."
This transaction is part of Sol Systems' overarching initiatives to expand the pool of capital available for distributed generation solar projects. To date, Sol Systems has facilitated financing for over 80 MW of distributed generation solar energy systems throughout the United States.
About Sol Systems
Sol Systems is a boutique financial services firm that offers investor clients direct access to the solar asset class and provides developers with sophisticated project financing solutions. Founded in 2008, Sol Systems focuses on meeting the most critical needs of the industry, including SREC monetization, capital placement, tax equity, and New Market Tax Credits. To date, the company has arranged financing for thousands of solar projects and facilitated hundreds of millions in investment on behalf of Fortune 100 companies, private equity, family offices and individuals.
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