Luminia debuts new solar financing options to help commercial building owners to hit ESG goals
Luminia, formerly SD Renewables, has a new financing platform to connect commercial properties and businesses (many with new ESG goals) with renewable energy options. Luminia is pairing new financing solutions with proprietary technology to provide swift access to a suite of sustainability improvements, including solar, electric vehicle charging stations and other energy efficiency upgrades.
Partners can now utilize Luminia’s Clean Energy PPA, Credit Based PPA or C-PACE financing to provide commercial property owners financing without any money down, or any corporate or personal guarantees, to increase net operating income and asset value.
David Field, co-managing partner of Luminia, previously led the build of one of only five enterprise-grade residential solar sales, origination and finance platforms. This platform scaled to execute more than 8,000 residential solar transactions, totaling over $350 million. Jim Kelly, co-managing partner of Luminia, has over 30 years of experience in commercial real estate, including developing and acquiring more than $1 billion in real estate assets.
“Over the last three decades I have grown acutely aware of the challenges in financing sustainability improvements for the commercial real estate industry. This experience guided our approach to inventing new ways for commercial property owners to achieve their ESG targets,” said Jim Kelly, co-managing partner of Luminia.
Through the Luminia platform, partners can perform on-the-spot pricing and proposals, instant property prequalification and a property and portfolio analysis that results in higher volume of customer originations, decreased sales cycle time, and less friction to close transactions.
The property-based Clean Energy PPA and technology platform is already in use. Carondelet High School in Concord, California, is one example of a project operating almost exclusively on solar power to drastically reduce its energy bills and carbon footprint, completed in partnership with Sun Light & Power.
“Luminia provided us with a financing solution under a very short timeframe, and it turned out to be a better option than what others were providing. Luminia viewed us as a partner and wanted to serve us properly, treat us well and make us a priority – which was extremely important to us,” said Noah Galabow, CFO of Carondelet High School. “The primary measure of success for the project has been the energy savings. It has generated more than we initially expected, and with that we are seeing significant cost savings.”
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