Community solar leader SunShare building 8.2 MWdc of solar projects in Minnesota
SunShare is considered the nation’s pioneer in community solar. Currently, it secured $11 million in construction/term project financing from ANB Bank. That’s for constructing the 8.2 MWdc of community solar gardens in Minnesota.
So far construction has begun on the SaintSun (6.9 MWdc) and ZumbroSun (1.3 MWdc) projects in Saint Michael and Zumbro Falls, MN. In addition, they are expecting mechanical completion starting in October 2018.
Both the SaintSun and ZumbroSun community solar projects being built by Conti Solar. Conti is a full turnkey EPC services contractor with a strong reputation. That’s as a highly experienced and reliable EPC partner.
In addition, these projects will consist of six total community solar gardens. This will serve therefore about 1,200 households in Carver, Wabasha, and adjacent counties. That’s as well as Saint Mary’s University! Subscribers will begin receiving the benefits of clean solar power as well as credits on their Xcel Energy utility bills for energy generated by the gardens once the interconnection process completes in late 2018 or early 2019.
Competitive community solar programs got their start with a 2 MW pilot program in Colorado Springs in 2011 and are now the fastest growing sector of the solar industry according to a 2018 report released by the Rocky Mountain Institute (RMI). Community solar programs and/or regulations now exist in 19 states with overall program capacity in the gigawatts.
ANB Bank has 30 banking centers in Colorado, Wyoming, and the Kansas City metro area. Its parent company, Sturm Financial Group, Inc. is based out of in Denver, CO, and its $2.6 billion in assets rank it in the top six percent of banks nationwide by size.
SunShare has developed over 90 MWdc of operating community solar gardens. It also therefore serves the largest active residential subscriber base in the community solar industry. Also, SunShare’s community solar gardens enable homeowners, renters, government organizations, and small businesses. You know like those that can’t afford to install solar panels on their home or building. As well as take part in and benefit from renewable energy. SunShare executives will be attending Solar Power International September 24-27 in Anaheim, CA.
In conclusion, to schedule a meeting during the conference, please contact SunShare@MercomCapital.com.
Sources: SunShare www.mysunshare.com, ST. MICHAEL, Minn. – September 13, 2018
