Solar Investment Fund SolRiver Capital Invests In Korsail Energy

US-based solar developer, Korsail Energy has announced recently that the company has  received a significant development finance commitment from the US-based renewable energy investment fund SolRiver Capital. According to Korsail, the company will complete its 2 GW worth of solar and storage projects with the help of this investment. Korsail Energy said, "With the help of this solar & storage project, we will provide grid-friendly, sustainable energy projects to rural areas across the nation."

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Both the companies claim that the development capital partnership between Korsail and SolRiver was established as a result of Korsail's substantial pipeline of upcoming projects, solid track record, and skilled team. 

"A fantastic fit for SolRiver's investment platform is Korsail's remarkable portfolio of high-quality solar and storage projects that are currently being developed in several regions. Additionally, we're supporting the enthusiastic team at Korsail, who has completed over 500MW of profitable renewable energy projects," SolRiver Capital Partner Nick Gazzolo added.

According to the agreement, Korsail focuses on creating renewable energy systems that serve the local grid and are focused on the community. Korsail claims creating initiatives that have a positive impact for many generations by working with landowners, utilities, and the community. Each project identifies public works projects inside the communities, expands the tax base, and creates jobs.

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"The co-development agreement between SolRiver and Korsail serves as the ideal illustration of value-added capital. Korsail will have access to SolRiver's vast network across the nation and gain from the team's in-depth knowledge of intricate energy markets," Don Buchholz, VP of Development at Korsail, noted. "Furthermore, Korsail can use the fund from SolRiver's investment to pay for key development costs and corporate overhead necessary for the success of our transformative project portfolio," he added.

Last year in May, SolRiver Capital LLC announced the acquisition of a 45-megawatt solar portfolio located throughout the Carolinas from Birdseye Renewable Energy (“Birdseye“), a leading developer of solar energy projects in the Southeastern United States. That was the second acquisition between SolRiver and Birdseye. The first project, located in North Carolina, was completed last year.