Arlington, VA (January 26, 2023) — National Cooperative Bank (NCB), a leading financial institution dedicated to providing renewable energy lending solutions nationwide, recently closed a $55 million loan facility to fund the construction and permanent financing of 20 community solar projects with United States Solar Corporation (US Solar) totaling approximately 37 MW.
The portfolio of assets includes community solar projects in Colorado and Minnesota that will benefit local commercial businesses and community residents, including low-to-moderate income subscribers.
“As a mission-focused financial institution with a long history of working in renewable energy, we are very excited to provide this level of funding to US Solar for the creation of 20 community solar projects,” stated Matt Wright, NCB Senior Vice President. “We have developed a strong relationship with industry leader, US Solar, and look forward to financing additional community solar projects nationwide.”
“We are thrilled to be working with NCB, a bank investing in the clean energy transition,” said Brian Lantz, Chief Financial Officer of US Solar. “This impactful investment will accelerate our solar project deployment and provide clean, renewable energy benefits to our project communities and subscribers.”
Founded in 2014, US Solar is a developer, owner, operator, and financier of solar generation and storage projects with a focus on emerging state markets and community solar programs. With over 80 operational community solar projects and over 750 additional megawatts in construction and development, US Solar is trusted by residential and commercial subscribers nationwide.
