PAOLI, Pa., June 8, 2017 /PRNewswire/ -- Keystone Power Holdings, LLC has established its first investment fund, KPH Solar Farms Fund I, in an effort to bring the cost and energy savings of clean energy – without the burden of significant up-front capital investment – to additional clients interested in small-scale solar projects. The investment fund will enable Keystone to expand its ownership into key United States markets, such as Maryland, Massachusetts, New Jersey, New York, Pennsylvania, South Carolina and Washington, D.C., by supporting small-scale solar power projects in addition to the medium-to-large projects that Keystone Power Holdings has financed previously. With an initial target volume of $35 million, Keystone expects to be able to finance more than 20 megawatts of additional small-to-large-scale solar power projects through KPH Solar Farms Fund I.
"Clean energy financing has evolved as renewable and distributed energy resources have grown to play larger roles in the United States' energy portfolio," said William DePhillipo, co-founder of Keystone Power Holdings, LLC. "As both the electricity grid and clean energy financing continue to become increasingly decentralized, Keystone's KPH Solar Farms Fund I will help to ease the transition by allowing small-to-medium size projects to utilize the same funding mechanisms that have typically been used to finance large-scale solar projects."
KPH Solar Farms Fund I has secured financial institutions to provide repeatable financing for eligible solar energy projects with capacities ranging from approximately 250 kilowatts to 10 megawatts. The fund will provide 100 percent of the initial debt, equity, tax equity and construction financing, making resources available at a time when consistent funding is difficult to obtain. The investment fund will also be responsible for credit rating, financial analysis, administration and finance as well as billing and collecting on power purchase agreements. KPH Construction Services, LLC will act as project developer and will work with partners to execute the planning, engineering and design for eligible projects.
"This fund works with a wide variety of credits and deal structures, allowing us to finance a broader range of opportunities than many others in the solar industry," said Anthony Fotopoulos, co-founder of Keystone Power Holdings, LLC. "Many organizations that wish to diversify their energy consumption and enact the environmental benefits of renewables now have a new option that allows them to pursue those goals while reducing their bottom lines."
About Keystone Power Holdings, LLC
Keystone Power Holdings, LLC is a renewable energy company that develops, builds, finances and manages solar energy facilities. We specialize in commercial small to medium size and industrial large size photovoltaic solar systems across North America. Keystone Power Holdings develops solar energy facilities for its clients and with our partners either on the ground or rooftop while passing on a savings. Keystone has a strong balance sheet and is a highly bankable solar downstream expert with more than 10 years of experience in the industry. www.keystoneph.com
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SOURCE Keystone Power Holdings, LLC