#United States #Denver #Community Solar #Tax Credits #Pivot Energy

Pivot Energy Secures $200 Million for Community Solar Projects

In a significant advancement in the renewable energy sector, Pivot Energy, a prominent U.S. independent power producer, has recently secured a $200 million tax credit purchase commitment to bolster its extensive 144 MWdc community solar portfolio across eight states. This initiative follows the company's prior financing agreements exceeding $450 million with investment partners like HASI, First Citizens Bank, and ATLAS SP Partners. This strategic funding aims to enhance renewable energy accessibility and promote local economic growth.

A Step Towards Sustainable Energy Solutions

The tax credits were procured through the Climate and Communities Investment Coalition (CCIC) facilitated by Acadia. This coalition is dedicated to ensuring that corporate investments in energy transition yield tangible benefits for communities. Upon completion, the 40 projects included in Pivot's portfolio will be instrumental in funding community initiatives, managed through the Sustain Our Future Foundation (SOFF), that will cultivate substantial community benefits.

As part of this effort, the community solar portfolio is poised to provide affordable electricity to thousands of residential and commercial clients in states such as Colorado, Delaware, Hawaii, Illinois, Maryland, Minnesota, New York, and Virginia. Beyond reducing energy expenditures, this collaboration will foster job creation, generate tax revenue, and finance impactful community development programs.

Community-Centric Engagement

These community programs are designed to bolster community resilience by upgrading infrastructure, enhancing workforce training, and broadening educational opportunities. Furthermore, they aim to alleviate energy cost burdens for low-income subscribers and support local organizations.

Tom Hunt, CEO of Pivot Energy, stated, “This tax credit purchase agreement reinforces that the energy transition can be both scalable and community-focused. We are thrilled to grow our partnership with Acadia and bring more solar energy to U.S. communities.”

Tim Short, Managing Partner of Acadia, expressed pride in assisting Pivot Energy in establishing one of the largest community solar portfolios in the nation. “By facilitating this commitment through the CCIC, we're helping to direct corporate capital to projects that deliver tangible benefits to local communities—like job creation, economic growth, and access to renewable energy,” acknowledged Brian O'Callaghan, Vice President at Acadia.

Paving the Way for Future Developments

As Yinka Bode-George, CEO of SOFF, highlighted, “This commitment demonstrates how renewable energy investments can be structured to drive tangible benefits for local communities.” With the administration of these community benefit funds, SOFF will play a crucial role in advancing job development and education while supporting local-serving organizations.

The first projects from this expansive portfolio are scheduled to commence commercial operations in the third quarter of 2025. This timeline underscores the urgency and excitement surrounding funded initiatives that promise to reshape the energy landscape for the better.

About Pivot Energy

Established as a leading provider in the renewable energy realm, Pivot Energy is dedicated to developing, financing, constructing, owning, and managing solar and energy storage projects. As a Certified B-Corporation based in the U.S., Pivot strives to create a positive societal impact measured through its comprehensive approach to environmental stewardship, social leadership, and responsible governance. The company’s commitment to the clean energy transition and effective decarbonization strategies highlights its dedication to sustainable progress.

For further insights about Pivot Energy, visit Pivot Energy.

Conclusion

As Pivot Energy advances its goals and pursues significant funding commitments, the backdrop of its community-driven solar initiatives sets the stage for a transformative shift towards a greener, more sustainable future. These programs promise to not only facilitate energy access but also embrace community integration, positioning solar energy as a vital component of economic and social development across the U.S.