Renewable energy provider Equal Earth partners with Greenbacker Renewable Energy Company to provide funding for solar power purchase agreements for businesses, utilities, and nonprofits.
Financing solar projects may be tricky, but the pace of solar financing seems to be stepping up. Every day we hear about a solar company securing financing for more projects.
Yesterday renewable energy provider Equal Earth, based in San Diego, announced that it has partnered with Greenbacker Renewable Energy Company to provide up to $50 million to finance solar projects. Equal Earth will use the capital to fund solar power purchase agreements for businesses, utilities, and nonprofits.
Greenbacker Renewable Energy Company, based in New York, is an externally managed energy company focused on the renewable energy sector. The company funds a wide variety of renewable energy assets. “Equal Earth is an ideal partner for us. They combine deep industry experience with a scalable business model and we expect to rapidly deploy this capital with them,” added Charles Wheeler, CEO of Greenbacker Renewable Energy Company.
“Equal Earth has a very aggressive growth plan and this $50 million is the catalyst for further expansion,” stated Equal Earth Chairman, President and CEO Andrew Duggan. “We are happy to team up with Greenbacker to create more opportunities for the public to access affordable, clean power,” added Duggan.