Aligned Climate Capital Closes $33M in Construction Financing for Delaware Community Solar Projects
Rifle Range Solar and Delaware Avenue Solar projects received financing from Live Oak Bank’s Renewable Energy Lending team
Held within Aligned Solar Partners 6, the projects total approximately 11.8 MWdc and are expected to generate approximately 18.2 million kWh annually
Sites are expected to serve an estimated 1,661 Delaware homes, avoid approximately 11,100 metric tons of CO2 annually and deliver approximately $9 million in total savings over the full project life
With Delaware electricity rates expected to increase this summer, community solar projects offer a timely opportunity to expand access to locally generated clean energy. To support expansion, Aligned Climate Capital has closed $33 million in construction financing on two Delaware community solar projects through its Aligned Solar Partners 6 (ASP6) fund, supported by Live Oak Bank’s Renewable Energy Lending team. Rifle Range Solar in Bridgeville and Delaware Avenue Solar in Harrington are both under construction and participating in Delaware’s Community Energy Facility program, which requires that at least 15 percent of subscribers be low-income customers.
