Enhanced Capital’s Climate Finance group is proud to support communities and sustainability by providing tax equity financing to a 1,153 kWdc solar project in Washington DC, developed by SunLight General. This project will provide clean energy and financial benefits to low-to-moderate income residents, generating significant community impact.

The project was completed in October 2021 and began producing power for subscribers of the District Department of Energy and Environment’s (DOEE) Solar for All program (SFA) which provides a credit to residents on their monthly Pepco electricity bill. In its first full year of operation, the project is expected to produce over 1,000,000 kilowatt-hours of electricity and have a useful life of 35 years.

SunLight General develops, finances, owns, and operates solar energy projects to promote clean, affordable renewable energy access for communities. Since 2009, SunLight General’s team has worked together developing over 300 sites totaling more than 75 MWdc.

Enhanced Capital’s partnership with SunLight General further solidifies the Firm’s mission to support carbon mitigation and the transition to a clean energy economy. The Climate Finance group invests in sustainable infrastructure projects and businesses throughout the US that include solar photovoltaics, wind energy, microgrids, electric vehicle (EV) infrastructure, and water treatment and reuse. As of December 31^st, 2021, Enhanced Capital’s Climate Finance group has financed over 100  solar energy projects totaling over 300 MWdc of solar capacity.

“Since low-to-moderate income families have limited access to affordable, clean energy, providing them with access to clean energy solutions is critical to achieving climate goals,” said Ed Rossier, Managing Director and Head of Climate Finance at Enhanced Capital. “To promote sustainability, create jobs, and lower housing costs in communities across the US, Enhanced Capital proudly partners with innovative businesses like SunLight General.”

To serve the community, all energy generated by the project will go directly to low-to-moderate income families at no cost for the first fifteen years of the project’s economic life through DC’s SFA program. SFA’s goal is to provide 100,000 low-to-moderate income families in DC with locally generated clean energy to reduce utility burdens and encourage the usage of available clean resources. Additionally, the DC Department of Energy and Environment is partnering with organizations to install solar on single-family homes and develop community solar projects to benefit renters and residents in multi-family buildings.

”Thanks to Enhanced Capital’s tax equity investment, we were able to pass along the entire electrical output of this solar project to low-income neighbors,” noted Edouard Klehe, Chief Investment Officer of SunLight General. “Also, our local development partners, Urban Ingenuity and the National Housing Trust, were invaluable in structuring the project to optimize sustainability goals, long-term stable economic return to investors, and a host of benefits to the community.”

The project consists of a fixed axis roof-mounted photovoltaic (PV) system installed on two of Pepco’s Benning Service Center buildings.