CleanCapital announces John Hancock to lead financing of distributed generation solar portfolio

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CleanCapital announces John Hancock to lead financing of distributed generation solar portfolio

CleanCapital has received funding from John Hancock Life Insurance Company, which invested senior debt into the US$21 million portfolio of 14 solar projects in 6 states.  

The solar portfolio, is a mixture of ground-mounted and roof-top solar systems that provide electricity to school districts, universities, and large enterprises. The CleanCapital-John Hancock financing enables large institutional investors to make high impact and high yield investments in clean energy channels. 

Jon Powers, Co-Founder of CleanCapital, said:

"This is an exciting time for CleanCapital and a turning point for clean energy investing, as we demonstrate to the market a more efficient process for solar developers to quickly exit their existing distributed generation portfolios. We are pleased to have John Hancock's support because of their long history of financing in the renewable energy space." 

Scott Kushner, Director, Power & Infrastructure at John Hancock, said:

"Solar project investing offers the opportunity to invest in clean and renewable sources of energy with predictable cash flows each year. CleanCapital provides high quality investment opportunities with long term power contracts."

 

More details about the solar portfolio are showed in the table below:

TYPE

LOCATION

KW (DC)

PPA OFFTAKER

Ground

Wilmington, DE

25

University

Ground

Pueblo, CO

1,193

University

Ground

Ordway, CO

181

School

Ground

Del Norte, CO

101

School

Ground

Blythe, CA

1,156

University

Ground

Brawley, CA

101

Hospital

Ground

Raleigh, NC

1,306

Utility

Roof

Portland, OR

299

School

Roof

Keasbey, NJ

2,421

Fortune 100 Company

Roof

Gladstone, OR

295

School

Roof

Grants Pass, OR

99

School

Roof

Saguache, OR

71

School

Roof

Canon City, CO

801

School

Roof

Swink, CO

98

School

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