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Green Transaction Evaluation: 1867 – NELKSI LLC $9.9 Million Solar Tax Equity Fund

1867 – NELKSI LLC is a newly-organized entity formed for the purpose of investing in entities that plan to develop, construct, own, and maintain solar photovoltaic systems and sell solar-power generated electricity to third party customers and local utilities. The 1867- NELKSI solar tax equity fund of $9.9 million has been issued for the purpose of funding four photovoltaic solar projects in Upstate New York. A subsidiary of 1867- NELKSI will hold companies that will own the assets and operate the projects. Following 1867 - NELKSI’s investment it will receive a 99% ownership of the projects and receive an allocation of 99% of profit and loss and IRC Section 48 Investment Tax Credits (ITC) generated by the projects. These investments provide a federal income tax credit that is a percentage of the eligible project cost.