Three of the four projects will be developed as community solar, to benefit both residents and small commercial/municipal and public schools as off-takers in the state of Maine.
The fourth project developed is on a former landfill located in Gloucester Township, NJ. Once complete the 4.5 MW project will produce more than 6 million kilowatt-hours of electricity per year which will offset more than 4,300 metric tons of carbon dioxide or the equivalent of almost 11 million miles driven by a typical passenger vehicle.
“As a mission-focused financial institution, NCB has been active in renewable energy financing for over 15 years,” stated Matt Wright, NCB Senior Vice President. “We have developed a strong relationship with Syncarpha Capital and look forward to financing additional solar projects nationwide.”
“Working with a mission-focused bank that specializes in renewable energy is critical to our success”, stated Cliff Chapman, Co-Founder, and CEO of Syncarpha Capital. “NCB has been a great financing partner and we look forward to working with their team on more solar projects in the future.”