SunVest Solar completed the acquisition and project financing for a 50 MW portfolio of community solar projects in Illinois and Maine
Several projects in Illinois were acquired through a joint venture development agreement with another developer. The remaining projects in both states have been developed internally by the company. Construction of the projects has started and it is expected that they will all be commissioned next year.
Illinois’ portfolio includes several projects built on contaminated land above closed coal mines, where the sites will be restored and recultivated with pollinator-friendly seed mixtures and used for agricultural voltaic purposes. The Maine sites are located in the northeastern corner of the continental US
“We are thrilled to advance our mission of cultivating America’s access to sustainable energy through these new community solar projects,” said Bram Walters, CEO of SunVest Solar.
“This milestone validates our multi-dimensional origination strategy, which involves self-development and project acquisitions. Today’s announcement furthers our goal to develop, build, own and operate high-quality, long-term assets across the country.”
