January 9 (Renewables Now) - US investor Enhanced Capital said on Wednesday it has provided USD 10.2 million (EUR 9.2m) in a tax equity deal that will support the construction of 10.25 MW of solar projects in several US states.
Enhanced Capital has partnered in the financing deal with Green Street Power Partners (GSPP) -- a commercial solar developer and supplier with more than 85 MW of solar assets under management or construction.
The 10.25 MW of solar plants, the given capacity of which is in Direct Current (DC), will be installed in the states of New Jersey, California, Connecticut, New York and Massachusetts under the federal government’s Solar Investment Tax Credit programme. The specific portfolio includes 11 schemes, including community and commercial ones.
In their first year of operation, the photovoltaic (PV) plants are expected to produce 12,900 MWh of electricity. The output will be provided to commercial, industrial and residential customers.
(USD 1.0 = EUR 0.899)