Empower Energies Accepting Qualified Projects in Need of Financing for New Solar Fund
Financing Is Available Immediately to Fund Photovoltaic Solar Projects for Commercial and Industrial Customers, Municipalities, Universities, Schools and Hospitals
FREDERICK, Md., Dec. 14, 2016 /PRNewswire/ -- Empower Energies ("Empower" or the "Company"), a leading clean energy project solutions company is currently conducting diligence on photovoltaic (PV) solar projects to fill the new Distributed Generation Fund (DG Fund) that it closed on November 23 with a leading global strategic tax-equity investor and a major US sponsor-equity investor.
Solar developers with projects in need of finance should contact Empower Energies immediately. A number of projects are already in the queue and completing diligence for financing, with construction and commissioning scheduled during Q4 2016 and throughout 2017-2018.
"Partnering with developers is our very highest priority," said Len Jornlin, Empower Energies CEO. "The new DG Fund enables Empower to offer a complete 'capital stack,' including development capital, construction finance, and project buy-outs at different points during the development process from NTP to COD, depending on the needs of the co-developer and the profile of the project. The fund also creates efficiencies for customers, simplifying the project approval process, and enabling a single point of decision-making, accelerating development."
The new fund features continuous financing that will enable Empower and its co-developers to efficiently deliver rooftop, ground mount, and canopy PV solar projects for Commercial and Industrial (C&I) customers, Municipalities, Universities, Schools and Hospitals over the next two years.
"Ideal projects for our new DG Fund range in size from 500 kW – 20 MW, and have an investment-grade off-take contract already in place," noted Bill Morrow, Empower Energies EVP Business Solutions.
Empower Energies currently seeks high-quality PV solar projects in most major SREC and non-SREC solar markets across the United States, including Arizona, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, New Jersey, New Mexico, New York, North Carolina, Ohio, Rhode Island, South Carolina and Washington, DC.
Renewable energy developers interested in obtaining financing for PV solar projects under development are encouraged to visit the Empower Energies Developer Growth Engine Portal, or to contact Michael Wright, Executive Vice President, Strategic Marketing, directly at 240.490.4200 x2160 or via email at [email protected].
Forward-Looking Statements
This release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the use of forward-looking terminology such as "believes," "expects," "intends," "may," "estimates," "will," "should," "plans" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. We do not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Empower Energies
Empower Energies, Inc., headquartered in Frederick, Maryland, is a clean energy project solutions provider focused on applying the right mixTM of photovoltaic (PV) solar, combined heat and power (CHP), and energy optimization solutions – with financing – to meet the profitability, resiliency and sustainability objectives of hospitals, universities, municipalities, and schools, as well as multi-facility commercial and industrial organizations. More information about Empower Energies can be found at www.empowerenergies.com.
Contact Information for media:
Michael Wright
Executive Vice President, Strategic Marketing
Empower Energies
50 Citizen's Way, Suite 403
Frederick, MD 21701
Office: 240.490.4200 x2160
Email: [email protected]
SOURCE Empower Energies
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