Aug 8 2014
GSSG Solar, LLC (GSSG) has completed the financing of a 4.75 MWdc portfolio of solar PV projects in the Denver metro area. The last of the seven ground-mounted, fixed tilt projects was interconnected in July of 2014 and all are now delivering electricity to the users at costs significantly below retail electricity rates.
Project financed & structured by GSSG (PRNewsFoto/GSSG Solar, LLC)
The energy users include Denver International Airport, the Colorado Department of Corrections, and the City of Greeley. The projects will be maintained by Colorado solar professionals over the course of the projects' 25-plus year operational lives.
GSSG Solar, LLC provided advisory services to the CO-based equity participant relating to the financing of the projects. The projects were developed by Denver-based Oak Leaf Energy Partners and were financed through a combination of equity and debt, in part supported by a cash subsidy bond product created by the Federal government to increase the development of renewable energy projects and further enabled by the strong credit of the energy users.
"It is a testament to the hard work and collaborative spirit of all the excellent participants in this transaction that these projects are now in the ground and delivering inexpensive solar electricity to the residents of, and visitors to, the great state of Colorado. We are proud to have participated in securing competitively priced permanent financing for this portfolio of solar projects, lowering the energy costs for this group of tax exempt entities," said GSSG Solar CEO, Tomakin Archambault. The portfolio is expected to generate enough solar power to serve approximately 1,200 Colorado homes.