In partnership with the Prometheus Power Group, a Michigan-based developer with a focus on Community Solar initiatives, NT Solar provided an equity investment in the $3.3 million in Solar Investment Tax Credits (ITC) generated by the development of the solar site in Eastport, Maine. This is NT Solar’s first investment with Prometheus Power Group and ninth collaboration with investor PeoplesBank.

The Eastport project will serve a mix of residential and commercial subscribers through Maine’s Community Solar program, offering a  15% fixed discount  on all allocated bill credits. The project also qualifies for the 10% Domestic Content adder under the Inflation Reduction Act, supporting U.S.-based manufacturing by utilizing domestically manufactured panels.

Prometheus Power Group is a developer and operator of community solar projects in the Northeastern, Mid-Atlantic, Midwestern, and Mountain West of the United States. The team has 150 MW in projects developed or in their near-term pipeline.  Prometheus led the acquisition of the Eastport project from the original project developer, MidCoast Solar LLC, to their operating venture, Nugenics Solar LLC. To learn more about Prometheus Power Group, click here.

In partnership with the Silicon Ranch Corporation, one of the largest solar developers in the United States, NT Solar financed over $67 million in solar tax credit investments for an installation spanning nearly 600 acres in Calhoun County, Georgia. This is NT Solar’s largest tax credit investment to date and was made possible through NTCIC/NT Solar’s newly established Climate Impact and Revitalization Fund (CIRF).

Once completed, the installation will generate nearly 114 Megawatts (MW) of power and will be purchased by one of the largest electric cooperatives in the country, which currently supplies energy to over 133,000 customers in northeast Georgia. Construction of the site will create 450 jobs and, once complete, will provide power to a large-scale data center, which employs more than 2,500 people. The installation site will use a regenerative approach to the installation site, allowing agricultural and animal grazing alongside the panels.

The developer’s partner, Regenerative Energy describes the process as “adaptively-managed grazing animals, diverse native plants, pollinator habitat, and wildlife work together to revitalize the soil, enhance biodiversity and resilient ecosystems, sequester carbon in the soil, and strengthen rural economies.”

The 114 MW installations, which will generate an estimated 210 million kilowatt-hours (kWh) per year of renewable energy annually:

Based in Nashville, Tennessee, Silicon Ranch is the U.S. solar platform for Shell and one of the largest independent solar power producers in the country. Their mission is to bring communities across the country low-cost, renewable energy, economic growth and development, job opportunities, and partnerships they can count on for the life of their solar projects. Follow Silicon Ranch Corporation on LinkedIn and Twitter for updates, or learn more at siliconranch.com.

NT Solar’s largest portfolio investment to date involved the financing of $65 million in solar investment tax credits (ITCs) for a portfolio of 100 solar installations across California. This milestone investment is in partnership with ForeFront Power, a leading developer and long-term owner-operator of solar energy and storage projects.

This portfolio, developed end-to-end by ForeFront Power and with a development cost totaling over $200 million, will provide renewable energy for 64 California schools that support thousands of students from K-12, as well as connecting to four city utility services and several of the largest counties in the state. Soon, hundreds of thousands of residents will be able to benefit from energy savings provided by these installations. This investment underscores NT Solar’s commitment to investing in renewable energy that serves a broad community base, contributing to a sustainable future for all.

The portfolio primarily consists of “canopy” systems, in which the panels are elevated over parking lots, allowing cars to park underneath. In addition to delivering significant environmental benefits and customer savings, this development style reduces the need for construction on undeveloped land and gives sprawling parking lots productive use.

Several installations within this portfolio will also qualify for various additional credits, or “adders,” for being located within an “energy community.” Released as part of the Inflation Reduction Act (IRA), energy communities are designated locations that have experienced economic or environmental hardships as a result of the fossil fuel industry.

NT Solar provided an initial investment in April for a 48.5 Megawatt DC portfolio of 79 solar installations. In July, NT Solar further invested in an expansion of the same portfolio, increasing the total installation count to 100 and the capacity to 58.4 MW. This additional investment brought the total financing to $65 million in ITCs, marking this as the largest investment by installation count in NT Solar’s history.

ForeFront Power is a leading developer of commercial and industrial-scale (C&I) solar energy and battery storage projects in the U.S. and Mexico, also offering vehicle fleet electrification services. The ForeFront Power team has 15 years of experience working together to develop more than 1,400 behind-the-meter and community solar projects, totaling more than 1.1 gigawatt-DC of renewable electricity. ForeFront Power serves business, government, education, healthcare, and community solar customers with a broad array of development, asset management, and advisory services from its San Francisco headquarters and via teams based in New York, Mexico City, and across the U.S. through a hybrid work model. To learn more, visit www.forefrontpower.com.

NT Solar facilitated an investment in the $5.6 million solar investment tax credits (ITCs) generated by Lodestar Energy LLC’s development of a solar photovoltaic (PV) installation built on a parking canopy with a 2 Megawatt (MW) battery storage system located in Lancaster, Massachusetts. Lodestar is an established northeast developer with more than 100 Megawatts (MW) in completed installations. The installation will sell power under the Massachusetts “Solar Massachusetts Renewable Target” or SMART program to the regional school system and local residences. This installation will provide a 10% discount to retail rates for traditional energy.

“We are excited to complete our fifth tax equity financing with NTCIC and are very proud of the work we’ve done as a team to bring new renewable electricity generation to local communities across the northeast,” said Jack Funk, Managing Partner of Lodestar Energy.

Founded in 2014, by Jeff Macel and Jaime Smith, Lodestar Energy’s goal is to develop great solar energy projects that are environmentally, socially, and financially successful. Since that time, Lodestar has successfully completed more than 30 projects with a combined value of more than $200 million dollars, which offset more than 53,000 tons of CO2 and power the equivalent of more than 13,000 homes annually.

In 2022, NT Solar provided a tax equity investment in the $28 million solar investment tax credits (ITCs) generated by the development of seven installations in New Jersey and a follow-on expansion investment in late 2023 for two installations in New York. These were NT Solar’s first two investments in partnership with Dimension Energy, a leading developer, owner, and operator of community solar. Placing in service in late 2023 and 2024, the nine rooftop and ground-mount sites provide cost-effective community solar solutions to local residents.

This investment was made through the Climate Impact & Revitalization Fund, established in 2020 by NT Solar and its parent organization, the National Trust Community Investment Corporation. The fund represents the collective efforts of NTCIC and NT Solar in providing capital to support decarbonization and climate change mitigation projects that make clean energy accessible and more affordable to local communities.

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