\t\t\tU.S. Bancorp Impact Finance provided $2.92 million in equity
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Originally published on U.S. Bank company blog<\/p>\n
The future is even brighter at Howard University in Washington, D.C., now that solar photovoltaic systems are installed on six campus buildings. Led by Volt Energy and partially financed by U.S. Bancorp Impact Finance, the roof-mounted solar systems are on the Blackburn Center, Burr Gymnasium, Locke Hall, the School of Business and School of Engineering buildings, as well on top of a carport canopy at the university\u2019s law school.<\/p>\n
“The Howard Forward strategic plan has effectively cultivated a culture of sustainability on campus. Through collaborative partnerships with Volt Energy, and support from U.S. Bank, we are poised to elevate our achievements by establishing a dedicated energy grid,\u201d said Howard University Executive Vice President and Chief Operating Officer Dr. Tashni Dubroy. \u201cEmbracing clean energy solutions not only enables cost savings, but it also facilitates a significant reduction in carbon emissions. This initiative represents a crucial step in addressing the historical burden of environmental injustices disproportionately affecting communities of color.”<\/p>\n
Volt Energy is a Black-led renewable energy developer and independent power producer. The company\u2019s Co-Founder Gilbert G. Campbell III said, \u201cWe express our deep gratitude to U.S. Bank for their grant and tax equity investment, enabling our firm to become long-term owners of Howard\u2019s 1.7 Megawatt (MW) solar project. As a Howard alumni, I am thrilled to provide clean solar energy to buildings across the campus. It is paramount for our company that students witness the benefits of clean energy and understand how they can build wealth in the clean energy economy.”<\/p>\n
Impact Finance is one of the most active renewable energy investors in the nation, providing needed capital for solar, battery storage and wind projects.\u00a0<\/strong><\/p>\nImpact Finance committed $2.92 million in equity to the project and provided strategic and technical support throughout the deal. Additionally, DC Green Bank financed the project with a construction loan and is in the process of closing on permanent debt financing.<\/p>\n
\u201cWe share Volt\u2019s passion for equitable outcomes in solar,\u201d said Darren Van\u2019t Hof, who serves as Impact Finance\u2019s managing director of environmental finance. \u201cIt\u2019s great to see our dedicated teams work through the financing and implementation of renewable energy projects and achieve these rewarding results for the university.\u201d<\/p>\n
Impact Finance is one of the most active renewable energy investors in the nation, providing needed capital for solar, battery storage, and wind projects. The U.S. Bank subsidiary has invested more than $18.9 billion in tax equity; provided capital that has supported the deployment of 24.70 gigawatts of renewable generating capacity; and has a $956.6 million renewable energy loan commitment as of the end of first quarter 2024.<\/p>\n
\u201cI see sustainability for this university as something that everyone partakes in and care about,\u201d said Kimora Oliver, a student sustainability leader. \u201cHUSA Sustainability has been trying to bring it to the forefront of students minds through both events and projects. We want people to think of sustainability as something other than just climate change. We want people to know that they can be sustainable on campus and that there\u2019s a place for people who are interested in the environment. Although it\u2019s taking a lot, we are working with the university on bigger projects like recycling infrastructure as well as composting.\u201d<\/p>\n
According to Volt, the solar projects are expected to generate nearly 35,000 megawatt hours of solar energy \u2013 which will avert more than 23,000 metric tons of carbon.<\/p>\n<\/p><\/div>\n
Read the article originally published at www.3blmedia.com.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"U.S. Bancorp Impact Finance provided $2.92 million in equity Originally published on U.S. Bank company blog The future is even brighter at Howard University in Washington, D.C., now that solar photovoltaic systems are installed on six campus buildings. Led by Volt Energy and partially financed by U.S. Bancorp Impact Finance, the roof-mounted solar systems are […]<\/p>\n","protected":false},"author":136,"featured_media":252837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[390],"tags":[6154,6152,3404,825,6151,584,5176,3405,6153],"yoast_head":"\n
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