Jun 7 2010
Socially progressive bank Wainwright Bank & Trust Company has offered a term and construction debt facility to sustainability solutions and energy conservation provider GreenBridge Energy Consortium. This financing will facilitate not-for-profit companies to realize the benefits of clean production without the hazards of maintenance or ownership.
Generally, initial costs were a barrier to solar projects. However, this barrier is overcome by means of the turnkey solar installation program of GreenBridge Energy Consortium.
This financing will help construct projects with 2 MW capacity, which is sufficient to power over 250 homes annually in Massachusetts. This will also lead to better air quality and reduction in greenhouse gases, equivalent of planting over 700 trees or removing 300 cars from the road.
This program of GreenBridge Energy Consortium is designed specifically for nonprofits. Through this program, nonprofits that are interested in clean energy can be provided with financing.
In March 2010, the first project of GreenBridge Energy Consortium was completed at the Boys & Girls Club in Lawrence, Massachusetts.
Most of the nonprofit solar photovoltaic projects of GreenBridge Energy Consortium range between the 25-250 kW capacities. Under the Power Purchase Agreements (PPAs), the consortium offers nonprofit clients with electrical energy. Moreover, the consortium takes responsibility for the engineering, maintenance, ownership, installation and design of the systems.