Keystone Power Holdings launches $35 million solar fund


Keystone Power Holdings LLC has established a solar investment fund, KPH Solar Farms Fund I, to finance small-scale solar projects.

The investment fund will enable Keystone to expand its solar asset ownership into several targeted U.S. markets, including Maryland, Massachusetts, New Jersey, New York, Pennsylvania, South Carolina and Washington, D.C.,

Keystone expects to be able to finance more than 20 MW of additional small-to-large-scale solar power projects through KPH Solar Farms Fund I. “Clean energy financing has evolved as renewable and distributed energy resources have grown to play larger roles in the United States’ energy portfolio,” said William DePhillipo, co-founder of Keystone Power.

KPH Construction Services LLC will act as project developer and will work with partners to execute the planning, engineering and design for eligible projects. The company has installed projects ranging from small arrays on schools in California to a 28.5 MW project for Duke Energy Progress in North Carolina.

”As both the electricity grid and clean energy financing continue to become increasingly decentralized, Keystone’s fund will help to ease the transition by allowing small-to-medium size projects to utilize the same funding mechanisms that have typically been used to finance large-scale solar projects,” DePhillipo says.

The fund has secured commitments from financial institutions to provide repeatable financing for solar energy projects with capacities ranging from 250 kW to 10 MW, including both rooftop and ground sites. The fund will provide 100 percent of the initial debt, equity, tax equity and construction financing. The investment fund will also be responsible for credit rating, financial analysis, administration and finance, as well as billing and collecting on power purchase agreements.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:

Popular content

Utility-scale agrivoltaic installation in Ohio is now operational
16 July 2024 Savion developed the 180 MW solar power plant located in Madison County, one of the first operating utility-scale solar sites to integrate soybeans, a...