Renewable Properties starts construction on 17-MW California community solar + storage portfolio
Summary
Scheduled for completion in 2025, the projects will deliver over 17 MW of clean, renewable power to customers through programs offered by Sonoma Clean Power (SCP) and Pacific Gas and Electric (PG&E).Optus Bank, Pathward, N.A., and BridgePeak Energy Capital are providing two construction loans to fund the three California projects. The first loan, totaling $16.3 million, will support the construction of Redemeyer Road Solar project. The second loan, totaling $19.518 million, will finance the construction of Althea Phase I and Althea Phase II.The power from the 5.56 MW Redemeyer, located in Ukiah, California, will be procured by Sonoma Clean Power (SCP), the community choice aggregator (CCA) that serves Sonoma and Mendocino counties. Its renewable energy will contribute to PG&Es Disadvantaged Communities (DAC) Green Tariff program, which provides clean power to low to moderate income-qualified residents with a 20% discount on their electric bills.The adjacent 5.02 MW Phase 2 project is part of PG&Es Solar Choice program. Were grateful to our partners Optus Bank, Pathward, and BridgePeak Energy Capital for enabling us to help more Californians go solar, regardless of income or having rooftop access.