Elm Lea Renewable Energy
May 14, 2021
May 14, 2021
Invest in a solar array for an innovative school in Vermont. Highlights: Investing in a solar panel array that has been successfully operating and generating revenue for over 4 years. Proven track record of steady payment by a long-running, innovative school in Vermont. Wholly-owned by a well-diversified solar developer with a strong balance sheet. Frees up parent capital to get new early-stage projects built.
This is an opportunity to invest in Elm Lea Renewable Energy, LLC (Elm Lea), a wholly-owned subsidiary of Solaris Investment Group (SIG), formed to provide the Putney School (Putney) in Vermont with clean, renewable energy for 28 buildings across its campus (Figure 1). Investors in this securities offering will leverage an already operational 446.4-kilowatt solar project that has been producing clean electricity for students over the past 4.5 years and has a binding 20 year contract with Putney to continue purchasing the energy generated from the project.
The funds raised in this offering by Elm Lea are in the form of a loan against the fully operating solar system owned by the Company. By taking on this debt, Elm Lea can pay SIG back for originally invested capital and SIG will use the funds to invest in new solar PV systems, similar to the one at the Putney School. Currently, the funds are intended to be used for construction of a 5.5 MW solar energy system at a large state University that has adopted aggressive campus sustainability goals.