Sunwealth Announces $5 Million Investment from Inclusive Prosperity Capital to Finance Underserved, High-Impact Solar Developers and Projects
Sunwealth is thrilled to announce the closing of two $2.5 million solar debt facilities, finalized in late 2023, with Inclusive Prosperity Capital, Inc. (IPC). This partnership will support the deployment of 18 distributed generation solar projects across the country.
These facilities will help Sunwealth to finance our expanding portfolio of traditionally underserved projects, including solar PV systems on nonprofit, faith-based, and affordable housing properties.
IPC, a national nonprofit, is dedicated to increasing financing for clean energy projects that benefit underserved communities. They collaborate with partner organizations to address clean energy market gaps through catalytic financing programs.
"Sunwealth is excited and deeply grateful to partner with Inclusive Prosperity Capital," said Jon Abe, CEO of Sunwealth. "Our shared mission to build wealth, sustainability, and resilience in underserved communities makes this partnership both meaningful and impactful. Together, we aim to develop a portfolio of solar projects that will provide reliable clean energy, create green jobs, and deliver significant energy savings to communities across the U.S."
John D’Agostino, Managing Director of Clean Energy Transactions at IPC, added, “We are proud to expand our solar lending arm through this transaction, which we hope will set a precedent for future partnerships with mission-aligned developers like Sunwealth. We look forward to exploring creative solutions and productive collaborations to advance clean energy investments in underserved markets.”
Both organizations are eager to build on this relationship and explore future opportunities under the Greenhouse Gas Reduction Fund.
The financed portfolio consists of 18 projects across six states, totaling 3.5 MW. These projects are projected to generate $11.4 million in energy savings, create over 120 solar job years, and offset more than 85,000 metric tons of carbon emissions over their operational lifetimes.
About Inclusive Prosperity Capital:
Inclusive Prosperity Capital, Inc. (IPC) is a nonprofit organization that operates at the intersection of clean energy finance and community development. Our team delivers comprehensive energy financing solutions, innovative tech-enabled lending platforms, and financial products that foster inclusive access to climate solutions. We are dedicated to deploying capital strategically into historically underserved energy markets, projects, and mission-aligned organizations through innovative structuring and initiatives.
As a thought leader in the industry, IPC is demonstrating how impact can be scaled. Learn more about how IPC is shaping the future of inclusive clean energy and explore opportunities to partner with our mission by visiting our website at https://www.inclusiveprosperitycapital.org/.
Media contact: Brian Liechti (brian.liechti@inclusiveteam.org), Senior Manager, Market Engagement
About Sunwealth:
Sunwealth is a clean energy investment firm working to change who has access to renewable energy by changing the way we invest in it. Combining deep experience in solar development and finance with roots in community and impact investing, Sunwealth invests in commercial solar projects; delivering clean energy and energy savings to communities while providing strong financial returns to our investors and partners. Since 2014, the company has invested over $194 million in more than 646 community-based solar projects nationwide; the company has delivered targeted returns to investors for 9 years with no defaults. For four consecutive years, Impact Assets named Sunwealth to its IA50, a leading list of impact fund managers; Environmental Finance awarded Sunwealth its 2023 Award for Innovation – Bond Structure (Social Bond) and named Sunwealth’s Solar Impact Fund its ESG Fixed Income Fund of the Year.
Media contact: Martha Buckley (martha@sunwealth.com), Senior Manager