Excelsior enters JV with Unico Solar for 250 MW solar projects pipeline in North America

Excelsior Energy Capital has closed a long-term programmatic joint-venture partnership with Unico Solar Investors to build, own and operate a 250 MW pipeline of commercial and industrial (C&I) solar projects located across North America. 

The C&I portfolio will be comprised of ground-mount, rooftop, and carport solar projects totaling approximately 250 MW, located across multiple U.S. states including Arizona, California, Colorado, Hawaii, Massachusetts, Nevada, New Jersey, New York, Oregon, Washington, among others. The projects will sell clean electricity to a diversified mix of consumers, including commercial businesses, property owners, municipalities, educational institutions, utilities, and other credit-worthy C&I customers under long-term power purchase agreements.

The construction of the first set of projects is expected to begin in Q3 2020. Excelsior is raising the tax equity, construction, and permanent debt financing for the projects.

Akin Gump Strauss Hauer & Feld LLP served as legal counsel for Excelsior on the transaction, led by Partner, Daniel Lynch.