U.S. Department of Energy LPO Announces Conditional Commitment to Sunwealth to Deploy Solar PV and Battery Energy Storage, Creating Wide-Scale Virtual Power Plant

Sunwealth is excited to announce that we have received a conditional commitment for a Loan of up to $289.7 million from the U.S. Department of Energy’s Loan Programs Office (“DOE”). We are appreciative of the DOE’s confidence in our mission to provide clean, affordable energy through community-based solar projects. This milestone marks a significant step forward in Sunwealth’s growth, highlighting our progress as a champion of the underserved solar market as well as the ongoing opportunity to build a more equitable and sustainable energy future.

If finalized, the loan would support the growth of Sunwealth’s solar and solar plus storage portfolio and expansion into new markets nationwide. To date, Sunwealth has financed and built more than 700 projects, delivering over 54 MW of installed community-based solar and solar plus storage projects across the country. This investment will boost our ability to raise complementary project capital, catalyzing Sunwealth’s efforts to deliver clean energy and cost savings to diverse communities, strengthen the electric grid through Virtual Power Plants (VPPs), create jobs, and unlock new opportunities to deepen our impact.

Please find details of the conditional commitment on the DOE Loan Programs Office website, linked here.

With the strength of our community and trusted partners alongside us, we are inspired to continue building a better energy future for all.