NT Solar, a prominent player in the renewable energy sector, has unveiled one of its most substantial portfolio investments to date, committing $65 million in solar Investment Tax Credits (ITCs) for a comprehensive portfolio comprising 100 solar installations across California. This significant investment represents a collaborative effort with Forefront Power, a leading developer and long-term owner-operator of solar energy and storage projects.
The expansive portfolio, meticulously developed from inception to execution by Forefront Power, boasts a development cost exceeding $200 million. Its primary mission is to deliver renewable energy to 64 California schools, supporting thousands of K-12 students, while also establishing connections with four city utility services and multiple large counties within the state.
This endeavor will soon enable hundreds of thousands of residents to reap the benefits of energy savings provided by these innovative installations. NT Solar’s involvement underscores its unwavering commitment to investing in renewable energy solutions that cater to a diverse and broad community base, thus contributing to a sustainable and environmentally conscious future for all.
Alyssa Watt, Senior Transaction Manager for NT Solar, expressed pride in this monumental investment, stating, “We’re incredibly proud of this landmark investment. Forefront Power has been an exceptional development partner every step of the way.”
This remarkable milestone builds upon NT Solar’s previous engagements with Forefront Power. In December 2022, NT Solar initially invested in a 48.5 Megawatt DC (MW-DC) portfolio consisting of 79 solar installations. In July 2023, NT Solar significantly expanded its commitment to the same portfolio, augmenting the installation count to 100 and elevating the capacity to 58.4 MW-DC.
This additional commitment propelled the total financing to an impressive $65 million in ITCs, marking it as the largest investment by installation count in NT Solar’s history. It further underscores NT Solar’s resounding trust in Forefront Power as a development partner and long-term collaborator in pioneering clean energy initiatives.
This landmark investment not only signifies the potential for substantial advancements in California’s renewable energy landscape but also solidifies the partnership between NT Solar and Forefront Power as an influential force in driving sustainable energy solutions. It serves as a testament to the shared vision of both organizations in promoting a greener and more environmentally responsible future.