Solar Partnerships that Deliver During Challenging Times
Expanding its growing portfolio, Standard Solar acquired financing for development and will serve as the long-term asset owner of 16 community solar projects in Minnesota totaling 21.8 megawatts (MW). Tax equity financing for these projects was secured in a partnership with Crestmark, a division of MetaBank®, N.A.
“We are pleased with the strong relationship we have established with Crestmark to successfully build and finance this portfolio,” said Peter Coleman, Senior Vice President, Structured Finance, Standard Solar. “Despite challenges created by COVID-19, we have worked collaboratively with our strongest development and financial partners to successfully excel the business during the most challenging times.”
As of early 2021, Minnesota has the most installed community solar capacity in the U.S. according to the National Renewable Energy Laboratory. Community solar is an effective way to provide large numbers of subscribers access to the benefits of clean energy, advance the clean energy workforce and economic impact and drive millions of dollars of investment in the state in which the projects are located.
Crestmark is committed to all forms of alternative energy, including community solar. Partnering with Standard Solar on these projects supports our mission of providing innovative financial solutions to consumers and businesses in underserved niche markets. We look forward to continued growth in our partnership with Standard Solar.