Sunwealth helped finance a solar project for the World Learning School for International Training (SIT) campus in Vermont, which originally wasn’t financially feasible.
“We have always been interested in renewables, but they can be cost prohibitive for organizations like ours,” said Kote Lomidze, Chief Financial Officer at World Learning. “Partnering with Sunwealth has given us access to an energy source that has been out of reach until now.”
Commercial solar development has traditionally been overlooked by banks and other financial institutions in favor of residential and utility-scale projects for two primary reasons: the lack of a credit rating system and the size of the projects.
Sunwealth’s proprietary underwriting process, however, ensures the credit worthiness of its commercial clients. In addition, Sunwealth’s approach minimizes transaction costs and provides investors with an attractive return potential and the opportunity to make a positive impact. The 196.5 kW World Learning project will help the national non-governmental organization achieve $10,000 in energy savings per year.
“The World Learning project represents what we envisioned when launching Sunwealth,” said Jonathan Abe, Chief Executive Officer at Sunwealth. “It’s incredible to see how World Learning is putting its energy savings to work furthering the organization’s mission.”
Solar Design Associates, Inc. an Ayer, Massachusetts engineering firm, and Dynamic Organics, LLC a renewable energy developer located in Putney, Vermont, designed and constructed the World Learning solar project.
“As a local developer, we understand how every installation affects our community,” said Morgan Casella, Managing Partner at Dynamic Organics. “We’re proud to be part of a project team that helps create a more resilient economy right in our backyard.”
— Solar Builder magazine