Calvert Impact Capital Invests $2.9 Million In Sunwealth
05/18/21, 1:12 PM
Location
cambridgeMoney raised
$2.9 million
Round Type
seed
Clean energy investment firm Sunwealth today announced a $2.9 million loan from Calvert Impact Capital to support Sunwealth’s solar access work. Sunwealth will use the financing, together with $4.3 million in tax equity investment from private investors, to support 18 solar projects on the rooftops and parking lots of nonprofit organizations, multi-family apartment buildings, houses of worship and commercial office buildings in communities underserved by traditional renewable energy financing. These community-based solar projects will generate enough electricity to power over 300 homes annually, and will provide Sunwealth’s solar customers with $3.8 million in lifetime energy savings. The loan will also help catalyze additional investment in Sunwealth’s innovative solar financing model.
Company Info
Location
cambridge, maryland, united states
Additional Info
Sunwealth’s mission is to invest in the future of energy, generating financial, social and environmental returns for investors and communities. We are a team of industry experts who have built careers in solar development, structured finance and impact investing. We see the future of energy as decentralized, decarbonized and inclusive. We make it possible for individuals and organizations to invest in that future, bringing new capital and solar access to markets overlooked by traditional solar investors.