SunLight General Capital, a solar energy developer and financier, has closed a $23,980,000 bond issue to pay a portion of the costs of constructing solar systems at 34 sites within Somerset County, N.J.
The projects, which together will generate nearly 8 GWh of energy annually, will total 6.9 MW. SunLight General Capital anticipates that power revenues and the sale of solar renewable energy credits generated by the projects will fully repay the bonds over the next 15 years, resulting in no out-of-pocket costs to the county or its local government units.
