Sol Systems is proud to announce that it has facilitated financing for a 227-kW solar energy system at the KIPP Charter School, a non-profit in the Anacostia neighborhood of Washington, D.C. Volt Energy developed the project and Sol Systems structured the transaction and financed the project on behalf of its investment client, Washington Gas Energy Systems (WGES).
Sol Systems, Volt and WGES are headquartered in the Washington, D.C. area, which has one of the most attractive solar markets in the country thanks to strong solar legislation and a robust solar renewable energy credit (SREC) market. To finance the KIPP system, Sol Systems provided an SREC contract for the project and then packaged it into a portfolio of other mid-sized commercial solar projects in Maryland, Hawaii, and California for its investor client, Washington Gas Energy Systems.
“We’ve worked with Sol Systems on SRECs over the years. They have a great reputation, so it was natural to work with them again for this opportunity,” said Gilbert Campbell, Volt Energy’s co-owner and Director of Business Development. “They swiftly conducted due diligence and secured a financing partner to meet our timeline.”
“We are proud to work with local partners, Volt Energy and Washington Gas, to bring innovative solar energy solutions to the District,” said George Ashton CFO of Sol Systems. “This partnership is good for D.C., the environment, and for the students at the KIPP School. Through this partnership, we helped the KIPP School achieve electricity savings while providing a renewable energy educational opportunity to its students.”
To date, Sol Systems has facilitated financing for nearly 60 MW of solar projects throughout the country, 4 MW of which have been in Washington, D.C. The firm was also recently listed in Inc.’s exclusive 500|5000 list as the No. 2 fastest growing company in D.C.
— Solar Builder magazine