Solar Energy Partnership Brings Renewables to Howard University Campus
Impact Finance, a leading renewable energy investor, has committed .92 million in equity to a solar project and has been instrumental in providing strategic and technical support throughout the deal. The DC Green Bank has also played a crucial role by financing the project with a construction loan and is currently finalizing permanent debt financing.
“We share Volt’s passion for equitable outcomes in solar,” stated Darren Van’t Hof, managing director of environmental finance at Impact Finance. “It’s gratifying to see our dedicated teams collaborating on the financing and implementation of renewable energy projects, ultimately achieving positive results for the university.”
Impact Finance has established itself as one of the most active investors in renewable energy in the nation, focusing on solar, battery storage, and wind projects. With over .9 billion in tax equity investments and support for the deployment of 24.70 gigawatts of renewable generating capacity, the U.S. Bank subsidiary is committed to advancing sustainable energy solutions. As of the first quarter of 2024, Impact Finance has a renewable energy loan commitment of 6.6 million.
Kimora Oliver, a student sustainability leader, emphasized the importance of sustainability initiatives on campus. “HUSA Sustainability has been working to raise awareness among students about the significance of sustainable practices beyond just addressing climate change. We want to show that everyone can contribute to sustainability efforts on campus and that there is a community for those interested in environmental issues. Our collaboration with the university on projects such as recycling infrastructure and composting highlights our commitment to creating a more sustainable campus environment.”
The solar project led by Volt is expected to generate approximately 35,000 megawatt hours of solar energy, helping to offset more than 23,000 metric tons of carbon emissions. This significant impact underscores the collective efforts of all stakeholders involved in advancing renewable energy solutions.
