Reinvestment Fund provides Alternative Energy Development Group with Innovative Financing Solution

CONSTRUCTION CREDIT FACILITY FOR DISTRIBUTED GENERATION ENERGY PROJECTS ​:
​(Philadelphia, Pennsylvania, September 14, 2018)   Reinvestment Fund is pleased to announce the funding of Alternative Energy Development Group LLC, and affiliated companies SolarSense LLC, and their energy project company LLC’s, with a $5M revolving construction loan and line of credit.   The revolving credit facility will finance AEDG’s construction of numerous, concurrent energy projects in the United States.  The new credit facility will be used for a project beginning construction this month in Vermont, a 734 kW DC Solar PV system developed by AEDG and financed by its Fund, the Alternative Energy Infrastructure Projects Fund I, LP, and a tax-equity banking provider.  The loan will also be used for a 2 MW single-axis tracker Solar PV project scheduled to begin construction in November 2018 for a publicly listed oil & natural gas client in California.
 
This loan follows several loans between the Parties over a four-year period, including: 

• A ten-year, term debt loan for the 425 kW DC Philadelphia Navy Yard Community (PA) Solar Project
• A short-term construction loan for the 1.7 MW DC Pittsgrove Board of Education (NJ) Solar Project
• A short-term construction loan for the 701 kW DC Fairmont Farms (VT) Solar Project

“AEDG does a great job bringing solar power to a wide range of commercial customers, including many in the small-to-mid market and not-for-profit sectors that are often overlooked in the marketplace”, said Andy Rachlin, Managing Director, Lending and Investment at Reinvestment Fund.  “We’re proud to be part of their success.”

“We’ve established a strong working relationship with Reinvestment Fund based on trust, alignment of missions, and each company’s core competencies”, said Chris Fraga, Founder & CEO of Alternative Energy Development Group.  “We appreciate and value our relationship with Reinvestment Fund, and look forward to growing our partnership enabling clean, reliable and affordable energy projects.”






ABOUT REINVESTMENT FUND
Reinvestment Fund is a catalyst for change in low-income communities. The organization integrates data, policy and strategic investments to improve the quality of life in low-income neighborhoods. Using analytical and financial tools, Reinvestment Fund brings high-quality grocery stores, affordable ​housing, schools and health centers to the communities that need better access—creating anchors that attract investment over the long term and help families lead healthier, more productive lives.  www.reinvestment.com

ABOUT ALTERNATIVE ENERGY DEVELOPMENT GROUP
Alternative Energy Development Group (AEDG) helps commercial-scale clients reduce their energy demand, reduce their energy supply costs, and become more sustainable and resilient.  We develop, finance, own and operate commercial- and industrial-scale clean energy projects and serve as Fund Manager and General Partner for the Alternative Energy Infrastructure Projects Fund I LP.  Our singular focus is solving customers' energy needs by utilizing the latest clean energy technologies to achieve meaningful financial, sustainability and resiliency benefits.  www.aedgonline.com

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