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.
ABOUT VERDANT COMMERCIAL CAPITAL
Verdant Commercial Capital is the sixth largest independent equipment finance company in the United States. Verdant provides financing solutions for the acquisition of business essential equipment and software in six industries: Industrial; Manufacturing; Specialty Vehicle; Golf, Sports & Entertainment; Renewables & Energy Efficiency; and Technology & Office Automation. Verdant brings partners the ability to fund business with transaction sizes from below $25,000 up to $100 million. The company is headquartered in Cincinnati and has offices in Dallas, Detroit, Los Angeles and Minneapolis. Verdant was named a Top Workplace by The Enquirer Media in 2022 and 2023.
ABOUT EDPR NA DISTRIBUTED GENERATION
At EDPR NA Distributed Generation (EDPR NA DG), accelerating the adoption and success of distributed generation is at the core of our mission. EDPR NA DG provides cutting edge innovative renewable energy services across North America. Built on long-standing relationships with developers, power generators, corporate purchasers, municipalities and local communities, EDPR NA DG delivers a full suite of offerings ranging from financing and development to construction and operation of energy and storage assets poised to scale.
EDPR NA DG is a subsidiary of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector. EDPR is the world’s fourth-largest producer of wind and solar energy and is present in 28 markets in Europe, North America, South America, and Asia-Pacific.