GSSG Solar Completes Financing of 4.75 Megawatt Portfolio
DENVER, CO – July 28, 2014
GSSG Solar, LLC (GSSG) has completed the financing of a 4.75 megawatt DC (direct current) portfolio of solar photovoltaic projects in the Denver metro area. The last of the seven ground-mounted, fixed tilt projects was interconnected in July of 2014 and all of the systems are delivering solar generated electricity to the users at costs significantly below respective retail electricity rates. The energy users include Denver International Airport, the Colorado Department of Corrections, and the City of Greeley. The projects will be maintained by Colorado solar professionals over the course of the projects’ 25-plus year operational lives.
GSSG Solar, LLC provided advisory services to the CO-based equity participant relating to the financing of the projects. The projects were developed by Denver-based Oak Leaf Energy Partners and were financed through a combination of equity and debt, in part supported by a cash subsidy bond product created by the Federal government to increase the development of renewable energy projects and further enabled by the strong credit of the energy users.
It is a testament to the hard work and collaborative spirit of all the excellent participants in this transaction that these projects are now in the ground and delivering inexpensive solar electricity to the residents of, and visitors to, the great state of Colorado. We are proud to have participated in securing competitively priced permanent financing for this portfolio of solar projects, lowering the energy costs for this group of tax exempt entities,
said GSSG Solar CEO, Tomakin Archambault. The portfolio is expected to generate enough solar power to serve approximately 1,200 Colorado homes.
Oak Leaf Energy Partners
Oak Leaf Energy Partners was founded in 2005 to provide project development and consulting services for renewable energy transactions. The company helps property owners deploy solar and other renewable energy derived power across their portfolio of buildings and properties. Oak Leaf Energy Partners provides full turnkey development solutions, including feasibility studies, site planning and interconnection analysis, tax and financial structuring and negotiating financing and EPC contracts. Since its founding, the company has emerged as one of the largest and most active solar energy developers in the Rocky Mountain West, with a growing regional and international footprint and pipeline. www.OakLeafep.com
GSSG Solar, LLC
With offices in Denver, San Francisco, and Tokyo GSSG Solar, LLC is a full-service solar investment and consulting platform comprised of a select team of solar experts with investors and advisors from leading solar, energy, and financial service spaces. The firm is focused on ensuring solar project funding through structural optimization and appropriately matched capital. GSSG is experienced in capital formation, financial structuring, M&A, development, and deal execution. GSSG now manages the solar-only private equity fund GSSG Solar Partners, L.P. and is actively seeking to deploy capital with quality partners and projects. By leveraging a deep understanding of the entire project lifecycle from development to operations and investor constraints, GSSG is able to work with our investors and developers to ensure solar projects are successfully completed. www.gssgsolar.com
Press Contact: Jason Stevens, GSSG Solar, LLC /