Project Spotlight TEMPLATE
NT Solar financed a multi-site solar installation across Colorado generating over 45 megawatts of power. NT Solar Financing $43.1 Million…
July 15th, 2022 Washington, DC: This past month, NT Solar continued a series of successful solar tax credit investments with returning partners Silicon Ranch Corporation, Summit Ridge Energy, and Kearsarge Energy, including an expansion of a previous investment from earlier this year.
The recent closing of three large-scale investment portfolios through NT Solar’s Climate Impact and Revitalization Fund (CIRF) will generate over $57 million in solar investment tax credits (ITCs) and support the installation of six project sites with an installed capacity of nearly 70 Megawatts (MW DC) of energy across four states.
Together, these installations will generate an estimated 95 gigawatt-hours (GWh) of clean energy each year, offsetting the use of 45 million pounds of coal and enough to power nearly 10,000 homes annually.
“It’s always a pleasure doing repeat deals with familiar sponsors, which helps us deliver reliable year-end results for our investors. NT Solar strives to support impactful renewable energy initiatives that provide affordable energy to thousands across the country while also reactivating otherwise unusable land. Partners like Kearsarge and Summit Ridge are leading the charge.”
NT Solar financed an additional three installations, expanding on an investment from earlier this year. These additional installations in Illinois are projected to generate over $7.5 million in solar tax credits and will provide renewable energy to thousands of residential users, each saving up to 10% of traditional energy providers. The installations are anticipated to be complete and in operation by 2022 and will generate an additional 10.75 Gigawatts hours (GWh) each year. The Partnership 10 portfolio includes a 9.2 MW DC site in Maryland, the largest rooftop community solar installation in the state. To learn more about Summit Ridge Energy, visit www.srenergy.com.
In collaboration with returning partner Silicon Ranch Corporation, one of the nation’s largest carbon-free independent power producers, NT Solar provided tax credit financing for the $30 million solar investment tax credits generated by the 337-acre site. The nearly 35 MWac installation will generate over 68 GWh of renewable energy each year. Construction of this large-scale installation will support more than 100 construction jobs, with a preference given to applicants from the Bedford County area and military veteran community. Once operational, the project will supply power to Vanderbilt University and is projected to offset approximately 70% of Vanderbilt’s annual Scope 2 greenhouse gas emissions, the equivalent of enough power to serve more than 5,000 homes per year. In addition to these benefits, the project provides long-term tax revenues for the local community and new educational opportunities for faculty and students.
Silicon Ranch will keep the land housing the Bell Buckle Installation in agricultural production post-construction through holistic planned sheep grazing under its Regenerative Energy® approach to solar farm design, construction, and land management. This approach marries grassland restoration and regenerative agriculture practices with renewable energy production on one piece of land to restore soil health and biodiversity, promote and control vegetation, and sequester carbon to enrich the soil. Holistic planned sheep grazing mimics the way grassland ecosystems and large herds of native grazing animals have interacted over millennia. To learn more, visit siliconranch.com, regenerativeenergy.org, and clearloop.us.
NT Solar financed a portfolio of two installations located across Massachusetts and Rhode Island that is projected to generate over $16 million in solar tax credits. The Massachusetts installation will be paired with battery storage, and both projects will provide power to local communities and municipal off-takers savings on their conventional utility bills that can help support a variety of community services. The installations are anticipated to be complete and in operation by the end of 2022, will have an installed capacity of 13.3 MW DC, and will generate an estimated 17 GWh of renewable energy each year, enough to fully power 1,400 homes annually. To learn more about Kearsarge energy, visit kearsargeenergy.com.
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Since our inception in 2012, NT Solar has helped investors navigate Solar Investment Tax Credits and reach their Environmental Social and Governance (ESG) goals. We work to pair investors with the right solar project that will bring cost-effective energy options and growth to low-income communities, improve tax efficiency, and drive ESG initiatives.