... MassAmerican Energy LLC secures $20M for 17 commercial solar rooftop projects in Massachusetts | Solar Builder
 

MassAmerican Energy LLC secures $20M for 17 commercial solar rooftop projects in Massachusetts

Massachusetts solar

Commercial solar developer MassAmerican Energy LLC, announced a $20 million fund in partnership with PeoplesBank of Holyoke, Mass. The funds will be used to support the construction of 17 commercial rooftop solar arrays. This innovative commercial solar model allows building owners to remain free of the ownership and operational responsibilities of solar assets on their property. Instead, they act as the landlord for the solar system owner and operator. This allows the building owners to continue to focus on running their business while gaining a new revenue stream and avoiding the risks and challenges of solar asset development.

Because of the ongoing uncertainty surrounding COVID-19 and its impact on businesses, the MassAmerican Energy Solar as a Tenant model provides a vital new source of revenue for companies across the region.

“We are delighted to see the solar market reach a point where a prominent local bank can participate as both the tax equity investor and debt provider, cutting out the solar finance industry’s aggregator participants. Eliminating the aggregators allows for higher lease offers that translate into great development opportunities”. Quincy Vale, President, MassAmerican Energy.

“PeoplesBank is pleased to participate in this project. We have developed an expertise in solar financing that has allowed us to be a leader in bringing clean, renewable energy to the region, inkeeping with our core value of sustainability,”, according to Michael Oleksak, EVP, Commercial Banking for PeoplesBank. “Our staff, particularly Xiaolei Hua on our Commercial team, have been go-to resources on this issue for many companies throughout the region, and we’re proud to have MassAmerican Energy on that list.

Have you checked out our YouTube page?

We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.

Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.

We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.

Tags: , , , ,

Comments are closed here.