SAN FRANCISCO, Feb. 12, 2025 /PRNewswire/ -- White Pine Renewables, a leading developer, owner and operator of behind-the-meter solar energy assets, today announced the successful closing of a loan with Beneficial State Bank and Energetic Capital to finance two operating solar projects in California.
The projects, serving local power needs of the Feather Water District in Sutter County and the Kettleman City Community Services District in Kings County, provide long-term energy savings to the districts at no upfront cost.
"White Pine is proud to announce the closing of these two project loans. This transaction helps White Pine fulfill its mission of delivering value for our customers via reduced energy bills and long-term price certainty," said Michael Kremer, White Pine's co-founder and managing partner. "Additionally, we're pleased to announce a new relationship between White Pine and Beneficial State Bank and Energetic, all of whom bring deep industry expertise and local experience in California."
The two projects also demonstrate White Pine's commitment to deploying cutting-edge technology to help its customers achieve their energy goals. On the Feather Water project, White Pine deployed an elevated carport solution to maximize energy generation while enabling the district to retain full access to its irrigation ponds. On the Kettleman project, White Pine incorporated a high-density racking system from Planted Solar to maximize energy generation on a small site footprint.
"These projects would not have worked without innovative technological solutions," said Evan Riley, White Pine's co-founder and managing partner. "We appreciate the collaborative approach that all project stakeholders adopted to deliver these projects."
"Beneficial State Bank is thrilled to kick off this partnership with White Pine and support the company's efforts to develop, build and operate renewable energy projects throughout California and beyond," said Beneficial State Bank Vice President Jae Easterbrooks. "As a triple-bottom-line bank, we want to demonstrate to other financial institutions that they can divest from fossil fuels, invest in climate-friendly projects, and remain prosperous. We believe the green economy is here to stay and that renewable energy projects like this represent the path forward for people and the planet."
"We are very proud to support mission-aligned organizations like White Pine and Beneficial State Bank. We hope that this transaction will stand as an example of what is possible for C&I and distributed generation projects," said Jeff McAulay, CEO at Energetic Capital.
About White Pine Renewables
White Pine Renewables is a renewable energy development company that provides competitively priced, long-term power purchase agreements (PPAs) to leading commercial, industrial and public-sector customers. Focusing on solar and energy storage projects ranging from 1 to 20 MW, White Pine originates, develops, finances and operates projects throughout the U.S., with key areas of focus in the agricultural and municipal sectors in California and the Midwest. Learn more at www.whitepinerenewables.com
About Beneficial State Bank
Beneficial State Bank is a state-chartered, federally insured bank with branches in California, Oregon, and Washington. It serves the triple bottom line of people, planet, and prosperity for all, which involves serving its communities, supporting positive environmental outcomes, and achieving long-term financial sustainability. A unique ownership structure supports these strategic priorities: the bank's capital is majority-owned by the nonprofit Beneficial State Foundation. This means its economic rights are fully aligned with, and permanently governed in, the public interest. Beneficial State Bank is a founding signatory of the UN's Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, a Community Development Financial Institution (CDFI), Fossil Free Certified, and one of the world's top-rated Certified B Corporations.
About Energetic Capital
Energetic Capital is a leader in innovative financing solutions for clean energy and decarbonization projects. With a proven track record of unlocking over $800 million in project value across 1,500+ sites, Energetic Capital delivers scalable solutions across multiple technologies, including solar PV, wind, energy efficiency, microgrids, energy storage, community solar, and fuel cells. Energetic Capital projects have generated more than 275,000 MWh of clean energy and avoided over 115,000 metric tons of CO2. Energetic Capital's mission is to accelerate the transition to a sustainable energy future, delivering meaningful impact for businesses, communities and the planet.
Media contact:
Nancy Edwards
Clean Power Marketing Group
[email protected]
SOURCE White Pine Renewables
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