DURHAM, N.C., June 8, 2021 /PRNewswire/ -- As the U.S. solar industry continues to grow in gigawatt capacity, Leyline Renewable Capital, a leading provider of debt and equity capital for renewable energy development and construction, has partnered with SaveSolar, a Washington D.C.-based solar company that specializes in financing and developing community solar projects, with a focus on serving affordable housing communities.
Through a $10 million construction facility, Leyline will provide SaveSolar with the working capital and initial construction equity to develop and retain ownership of approximately 17 residential, commercial, and government rooftop solar projects, totaling 10.3MW. This is equivalent to offsetting the carbon emissions of more than 8,000 pounds of coal.
Community solar systems offer discounted energy to D.C. residents, especially those in apartments, homes, low-income housing, or community residents who may not be able to afford a solar installation on their own roofs. Ultimately, the clean solar energy SaveSolar helps generate is sent back into the utility and provided at a discount to residential, low-income, and community subscribers.
"Leyline is looking forward to developing a lasting partnership with SaveSolar," said Erik Lensch, CEO of Leyline. "By providing capital and expertise, Leyline will help SaveSolar develop, build, and hold community solar projects long term, which will ultimately help SaveSolar accelerate its growth and serve more D.C. residents."
Not only does Leyline offer financial capabilities and extensive development knowledge, it also brings significant solar construction experience to partnerships with developers like SaveSolar. Additionally, the SaveSolar executive leadership team has more than 60 years combined experience in renewable energy markets in the United States and Australia. Together, both companies hope to make solar energy more accessible and move the needle in the fight against climate change.
"SaveSolar is committed to making solar energy more affordable for low-income residents," said Karl Unterlechner, CEO of SaveSolar. "Through community solar, affordable housing companies can now receive ongoing revenue from the solar value on their rooftops, while their residents receive energy discounts. With Leyline's funding, SaveSolar will have the resources needed to develop, build, and grow the solar market in Washington, D.C."
Renewable energy developers interested in partnering with Leyline Renewable Capital can learn more here.
About Leyline Renewable Capital
Leyline Renewable Capital invests in the development, construction, and financing of sophisticated renewable energy projects. Backed by a team of seasoned investors with deep experience in the renewable industry, Leyline provides financing that bridges the gaps between development, construction, and operations. By investing in both the pre- and post-construction phases of renewable energy projects, Leyline is able to accelerate the development process and help developers scale their business. Leyline leverages a broad base of experience in greenfield project development, design, construction, and finance with an extensive network of relationships with industry leaders to provide support and capital for projects from concept to commercial operation. Leyline actively promotes anti-racism and diversity in the renewables industry and reports quarterly on its environmental impact and social change efforts. Learn more about Leyline Renewable Capital at https://leylinecapital.com.
SaveSolar is a Washington, D.C.-based organization that specializes in developing community solar assets. We work with building owners to finance and build solar systems, which then compensate owners with long-term revenue and generate solar energy back into the utility. This clean energy is then provided at a discount to residential, low-income, and community subscribers. Our mission is to help D.C. reach its renewable energy goals and to lower the cost of electricity.
The SaveSolar executive leadership team has more than 60 years of combined experience in renewable energy markets across Australia and the United States. We have diversified experience across construction, finance, project management, technology, and sustainability. If you would like to contact SaveSolar to discuss a project, please visit https://www.savesolar.us/rooftop-solar-lease/ to book an appointment or call us at (202) 846-6928 to speak to a community project specialist.
SOURCE Leyline Renewable Capital