Marathon Capital announces the successful closing of Empower Energies' DG solar PV fund

The fund will support commercial and industrial solar PV projects
The fund will support commercial and industrial solar PV projects

Marathon Capital (Chicago, IL, U.S.) on November 30th, 2016 announced the successful closing of the Empower Energies, Inc. (Frederick, MD, U.S.) Distributed Generation Fund (DG Fund) for commercial and industrial (C&I) solar photovoltaic (PV) projects originated and developed by Empower and its co-development partners.

WGL Energy Systems, Inc., a Washington Gas Light company, has committed to provide construction financing and permanent sponsor equity for the portfolio of PV solar projects originated and/or acquired by Empower over the next two years. Tax equity financing will be provided by a major strategic investor.

The DG Fund enables Empower to offer a complete “capital stack,” including development capital, construction financing, and project buyouts at different points during the development process, depending on the needs of the co-developer. 

The DG Fund also creates efficiencies for C&I customers, simplifying the project approval process, and enabling a single decision point, thereby accelerating development.

 

2016-12-01 | Courtesy: Marathon Capital; Image: Empower Energies | solarserver.com © Heindl Server GmbH

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