Sunwealth, a Boston, MA-based clean energy investment firm bringing commercial solar to scale, closed the first tranche of its Solar Impact Fund.
The fund offers investors two ways to invest – via tax equity or a bond offering – in the commercial solar asset class.
The first tranche is comprised of six projects providing renewable solar energy to fire departments, schools, and businesses in New York and New England, including Sika Sarnafil’s U.S. headquarters in Canton, Massachusetts and the Montessori School of Northampton, Massachusetts.
The second tranche, with a bond offering of $1.5M and tax equity offering of $1M, will include nine additional projects to build on the Solar Impact Fund’s initial success.
Led by Jonathan Abe, Chief Executive Officer, Sunwealth seeks to create wider-reaching social and environmental impact by combining commercial solar projects for credit-worthy businesses, municipalities, and non-profit organizations into a single investment vehicle.
The firm invests alongside its investors by owning and operating each project within the Solar Impact Fund.