EXCELSIOR, Minn.–(BUSINESS WIRE)–Excelsior
Energy Capital (“Excelsior”), a leading independent North American
renewable energy investor, announced today that its North American
Renewable Energy Fund (the “Fund”) has agreed to partner with Nokomis
Partners (“Nokomis”) on the construction and operation of a 16.5 MW
solar portfolio. Excelsior will be the long-term owner of the portfolio.
In addition, Excelsior and Nokomis are already working on their next
portfolio, seeking to leverage this experience to streamline future
development.
The ground-mount solar projects are located throughout Minnesota and
sell power under the Minnesota Solar Community Garden program to
municipal and commercial customers. Excelsior is raising the tax
equity, construction and permanent debt financing for the projects.
Construction is expected to begin in the second quarter of 2019.
Anne Marie DeMent, a Partner at Excelsior, commented: “Excelsior is
pleased to partner with the Nokomis team on this exciting transaction. A
key part of our strategy is to partner with experienced local
developers, such as Nokomis, to execute repeat investments in projects
earlier in their lifecycle, where Excelsior can create value by bringing
its project finance structuring capabilities to bear. This complements
our primary strategy of investing in high-quality operating assets.”
“We’re excited to partner with the team at Excelsior to construct this
portfolio of community solar projects and bring the benefits of local
energy to the Minnesota communities where we live and work,” shared
Brendan Dillon, Partner with Nokomis. “By leveraging Minnesota’s Value
of Solar rate structure, no ratepayer subsidies will be used in the
funding of these projects, a big step forward for distributed solar. We
look forward to continuing to work with Excelsior to deliver benefits to
our customers on these and future projects.”
About Excelsior Energy Capital
Excelsior Energy Capital is a pure-play renewable energy infrastructure
fund focused on long-term investments in wind and solar power plants in
North America. The Excelsior management team alone brings over 70 years
of combined experience and a comprehensive set of strategic, financial,
legal and operational expertise; making Excelsior Energy Capital a
valuable partner for developers and operators, and a trusted manager for
investors.
For more information, visit http://www.excelsiorcapital.com
or contact [email protected]
About Nokomis
Nokomis Partners is a Minneapolis-based energy developer with a mission
to accelerate local energy adoption through equitable partnerships. We
specialize in understanding the full development process from
origination, to technology, to long-term operation. Through a
combination of development and consulting services we use distributed
energy to deliver economic and social benefits to local communities.
For more information visit: www.nokomis.partners
Contacts
Alex Ellis
[email protected]
[email protected]
