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Capital Dynamics, Sol Systems secure tax equity for distributed solar projects

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Capital Dynamics, Sol Systems secure tax equity for distributed solar projects

Sol Customer Solutions, a joint venture between Capital Dynamics AG's Clean Energy Infrastructure business and Sol Systems, secured a distributed generation tax equity commitment from Bank of America.

The first tranche of the tax equity in July seeded 20 distributed energy projects totaling 30 MW, including a 5.5-MW rooftop solar project on Amazon.com Inc.'s fulfillment center in New Jersey, and American Bottoms, a 1.8-MW ground-mount solar project in Illinois supplying power to Sauget Sanitary Development & Research Association.

The tax equity commitment also financed the acquisition of a 20.7-MW solar portfolio of 17 rooftop and ground mount projects that supply power to Walmart Inc.'s Supercenter and distribution centers across Illinois.

The second tranche, secured in September, financed additional four projects, including a 1.3-MW ground-mount solar project in Illinois and three additional Walmart projects in California totaling 2.4 MW.

The tax equity commitment is structured to continue beyond 2020, with the target of funding nearly 76 MW of projects, the companies said in an Oct. 19 news release.