The solar projects will be expected to sell power to commercial, industrial and municipal customers.
Goldman Sachs can invest up to $275 million to finance the activities of the joint venture and own assets, combining financing provided by several parties via tax equity, debt and sponsor investments into a single capital source. TELOS Clean Energy will provide the development and construction experience necessary to originate, execute and asset-manage the portfolio.
The joint venture brings on former partners of Greenskies Renewable Energy, including TELOS’ CEO, Andrew Chester, and head of business development, Michael Daly.
“We are thrilled to be working with the Alternative Energy Investing Group at Goldman Sachs. Specializing in development, construction and asset management, this joint venture will allow us to scale and execute at pace,” says Chester.
Photo: TELOS Clean Energy focuses on distributed energy resources