Nelnet and Partners Close Solar Tax Equity Co-Investor Fund

Nelnet Renewable Energy has closed its first solar tax equity co-investor fund for 2021, having teamed up with six banks to invest $11.9 million in a portfolio of solar projects located in Rhode Island and New York.

Joining Nelnet in this investment are Elkhorn Valley Bank & Trust; First State Bank, Gothenburg, Neb.; Security First Bank (Nebraska); and three other banks.

The portfolio of projects financed by this co–investment is expected to generate over 20,000 MWh of solar energy per year for a group of community solar subscribers. Over the portfolio’s 35-year lifespan, the energy generated will offset an estimated 363,000 tons of carbon dioxide.

Nelnet Renewable Energy’s solar tax equity co-investment platform provides accredited investors with the opportunity to invest in solar projects across the U.S. Nelnet serves as the lead investor and underwriter alongside its co-investors. This unique structure, coupled with Nelnet’s experience servicing over $500 billion in loan assets, is designed to unlock long-term value for Nelnet and its co-investor partners.

“We want everyone to have equal access to the benefits of solar, and this investment is a huge step toward providing countless homes and businesses with renewable energy to help themselves and the environment,” says Scott Gubbels, executive director of tax and renewable energy at Nelnet.

The post Nelnet and Partners Close Solar Tax Equity Co-Investor Fund appeared first on Solar Industry.

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