Crestmark Bank and Alternative Energy Development Group Complete six (6) Project Sale-leasebacks
Continuing the banking relationship Crestmark Bank and AEDG originally formed in 2014, Crestmark closed on six Commercial & Industrial scale Solar PV PPA projects with AEDG on a tax equity sale-leaseback structure between September 2016 and January 2017. The 3.61MWdc Solar PV project portfolio includes five (5) group-net-metered projects in the State of VT and a sixth project in the Commonwealth of MA, all PPA’s for private, for-profit customer off-takers.
"We're excited to continue to power AEDG’s growth and to be part of the alternative energy industry," said Larry Pearce, senior vice president, managing director of Corporate Joint Ventures.
"From the beginning of our relationship in 2014 and through today, spanning 20 Project financings for Solar PV and Natural Gas Fuel Cell Projects, we continue to be impressed with Crestmark Bank’s team and commitment to entrepreneurial growth companies”, said Chris Fraga, Founder and CEO of AEDG. “Crestmark lives their mission to be the bank who helps with innovative financing and lending solutions, and we are honored to count Crestmark as a true partner in achieving our mission to help customers save money and be sustainable".
The SolarSense team attended the 8th Annual Renewable Energy Finance Forum (REFF). Founder and CEO Chris Fraga attend REFF at the Waldorf Astoria in Manhattan, NY. For 2 days Chris collaborated with 750 professionals and subject matter experts on critical topics such as project finance, regulation, and technology advancements impacting and propelling development in the Renewable Energy space.