Equal Earth, Greenbacker to partner
Developer Equal Earth says it has formed a partnership with Greenbacker Renewable Energy to provide up to $50m to finance solar power purchase agreements for businesses, utilities and non-profit groups.
“Equal Earth has a very aggressive growth plan and this $50 million is the catalyst for further expansion,” says Equal Earth chief executive Andrew Duggan. He adds the team expects to create more opportunities for the public to access affordable, clean power.
Equal Earth, based in San Diego, provides businesses and residences with easier and more cost effective energy solutions. Customers are able to have a clean energy system installed with no out-of-pocket costs to them.
Instead of purchasing the system upfront, customers simply make monthly payments that are significantly less than what they are paying right now for energy.
Greenbacker, based in New York, provides individuals an opportunity to invest in renewable energy projects through a professionally managed fund.