Greenbacker Development Opportunities Fund I LP, which offers versatile capital and technical steering for growth-stage clear power firms, has made an funding in Sunrock Distributed Generation (Sunrock DG), a financing and asset aggregation platform for business and industrial (C&I) photo voltaic and power storage tasks throughout the nation.
The partnership with Greenbacker will improve Sunrock DG’s capability to offer to finance for small and medium companies (SMBs) transitioning to photo voltaic power. It’ll additionally allow Sunrock DG to broaden its pipeline of middle-market business photo voltaic and storage tasks. Traditionally, assembly the clear power wants of SMBs has been prohibitively costly to deal with.
Sunrock DG develops smaller-scale business photo voltaic tasks that permit companies, municipalities and nonprofits to enter the monetary and environmental advantages of solar energy. Given challenges in reaching economies of scale, many firms haven’t been in a position to supply enticing third-party financing merchandise to middle-market house owners. Sunrock DG’s proprietary underwriting standards and expertise, novel financing sources and community of over 100 developer companions throughout the nation permit it to supply this market phase each financing and reasonably priced merchandise.
“We imagine distributed technology has an inherently lengthy tail, with the most effective alternatives and highest yields within the smaller finish of the market,” says Benjamin Baker, managing director at Greenbacker. “We’re thrilled to companion with Sunrock DG to broaden our presence in C&I photo voltaic and allow Sunrock DG to speed up its development and meet the immense demand for low-cost clean power options, notably in mild of rising energy costs.”
“The photo voltaic market has been ineffective at serving middle-market business prospects for the final 20 years,” states founder Claire Broido Johnson. “By our collaboration with Greenbacker and our deep community of developer companions, we’re wanting ahead to bringing extra considerate financing buildings to this underserved phase of the market.”
Greenbacker Capital Administration established the Greenbacker Improvement Alternatives Fund I LP in 2020 to spend money on firms targeted on sustainable infrastructure growth.