SunVest Solar has closed the acquisition and project financing for a 50 MW portfolio of community solar projects in Illinois and Maine.
Several Illinois projects were acquired through a joint venture development agreement with another developer. The remaining projects in both states were developed internally by the company. Construction on the projects has begun, with all expected to commence operations next year.
The Illinois portfolio includes several projects built on contaminated land above shuttered coal mines, with the sites set to be restored and recultivated with pollinator-friendly seed mixes and used for agrivoltaic purposes.
“We are thrilled to advance our mission of cultivating access to renewable energy for America through these new community solar projects,” says Bram Walters, CEO of SunVest Solar.
“This milestone validates our multi-dimensional origination strategy involving self-development and project acquisitions. Today’s announcement furthers our goal to develop, build, own and operate high quality and long-term assets across the country.”
