Leyline Renewable Capital has partnered with SaveSolar, a Washington D.C.-based solar company that specializes in financing and developing community solar projects, with a focus on serving affordable housing communities.
SaveSolar is developing a portfolio of 17 solar projects across residential, commercial and government rooftops totaling 10.3 MW. Leyline is providing a $10 million construction facility for these projects.
Community solar systems offer discounted energy to D.C. residents, especially those in apartments, homes, low-income housing or community residents who may not be able to afford a solar installation on their own roofs. Ultimately, the clean solar energy SaveSolar helps generate is sent back into the utility and provided at a discount to residential, low-income, and community subscribers.
“Leyline is looking forward to developing a lasting partnership with SaveSolar,” said Erik Lensch, CEO of Leyline. “By providing capital and expertise, Leyline will help SaveSolar develop, build, and hold community solar projects long term, which will ultimately help SaveSolar accelerate its growth and serve more D.C. residents.”
Together, both companies hope to make solar energy more accessible and move the needle in the fight against climate change.
“SaveSolar is committed to making solar energy more affordable for low-income residents,” said Karl Unterlechner, CEO of SaveSolar. “Through community solar, affordable housing companies can now receive ongoing revenue from the solar value on their rooftops, while their residents receive energy discounts. With Leyline’s funding, SaveSolar will have the resources needed to develop, build, and grow the solar market in Washington, D.C.”
News item from Leyline Renewable Capital
