Verdant Commercial Capital recently completed the funding of the last of a portfolio of solar projects which were launched by EDPR NA Distributed Generation (EDPR NA DG) in a series of sale-leaseback transactions for distributed generation solar projects in the United States.
Started in 2021, the portfolio was comprised of more than 25 solar projects mounted on Walmart stores and YMCAs in Minnesota, as well as other C&I and community solar projects in New Jersey, New York, Rhode Island and California. EDPR NA DG provides cutting-edge renewable energy services across North America.
“Verdant is proud to finance this series of solar projects for EDPR NA DG, and to be a partner with Flagstar Financial & Leasing and Norton Rose Fulbright,” said Verdant Commercial Capital Executive Vice President John Merritt. “With the rise in popularity of solar energy, Verdant’s Renewable & Energy Efficiency team has been able to ensure the funding of projects that will make a difference to companies, as well as individuals.”
The lessor of the transactions was Flagstar Financial & Leasing LLC. The law firm of Norton Rose Fulbright represented EDPR NA DG.