Arlington, VA (February 3, 2014)—National Cooperative Bank (NCB), a leading financial
services company dedicated to providing banking products to cooperatives and
socially responsible organizations nationwide, provided $82 million in
financing for solar projects during 2013. The Bank worked with Strata Solar of
Chapel Hill, North Carolina on 15 solar projects around the state that provided
94 MW of power.
“National Cooperative Bank is proud to
continue its commitment to funding sustainable projects, part of its mission as
a socially-responsible lending organization,” said Matt Wright, Senior Vice
President at NCB. “We are pleased to partner with Strata Solar, a similar
mission-focused firm, and look forward to what our partnership can accomplish
in the coming year.”
The projects the Bank financed resulted
in 94 MW of power, which equates to powering 11,250 homes. Additionally, it will
offset over 63,360 tons of CO2, which is equivalent to reducing auto travel by
120 million miles and reducing the carbon footprint by 11,700 cars. One
hundred percent of the electricity generated will be purchased by subsidiaries
of Duke Energy. More than half of the
solar projects also serve low to moderate income and rural communities.
In addition to creating alternative energy
supplies, and reducing the carbon footprint, financing these projects also
created new jobs in the community. The Bank’s partner, Strata Solar, is committed
to hiring and training a local workforce for long-term employment opportunities. In 2013, Strata Solar tripled its workforce
by creating 1,200 new jobs.
“We work very closely with local employment
and economic development offices where our major projects are built and we hire
and train individuals for a secure future in solar development,” said Markus
Wilhelm, CEO, Strata Solar. “Our
strategy is to build our utility scale projects in regional ‘clusters’ so that
our teams move from one job to the next creating sustainable long-term job
About National Cooperative Bank:
NCB is dedicated to strengthening
communities nationwide through the delivery of banking and financial services,
complemented by a special focus on cooperative expansion and economic
development. Headquartered in Washington, DC, the Bank has offices in Alaska,
California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National
Cooperative Bank on Facebook, or on Twitter @coopbanking.
About Strata Solar, LLC.
Strata Solar is a national leader of
utility scale solar energy systems and installations. Strata’s unique, low
impact, standardized approach to solar farm creation is supported through its
vertical divisions which offer complete turnkey services for the design,
construction and installation of utility and commercial photovoltaic systems.
Strata also offers a full array of development, engineering, procurement,
construction, operation and maintenance services to companies interested in
clean renewable energy. Headquartered in Chapel Hill with an expansive O&M
facility nearby. For more information please visit www.StrataSolar.com