Sunwealth Power closes first tranche of Solar Impact Fund

By Tali Rackner

Minneapolis, Aug. 15 – Sunwealth Power LLC said it closed the first tranche of its Solar Impact Fund, according to a press release.

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, Mass., and the Montessori School of Northampton, Mass. All six projects were recently placed in service, and to date the Solar Impact Fund has exceeded performance expectations, Sunwealth said in the release.

The second tranche, with a bond offering of $1.5 million and tax equity offering of $1 million, will include nine additional projects to build on the fund’s initial success, the firm added.

Sunwealth is a Somerville, Mass.-based clean energy investment firm.

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