DENVER, August 12, 2022 (Newswire.com) - SolRiver Capital, a national renewable energy investment fund, announced today a large development capital commitment to Korsail Energy. The investment enables Korsail to drive its 2GW of solar and storage projects to completion. SolRiver is excited to support Korsail in bringing its grid-friendly, clean-energy projects to rural communities across the country.
SolRiver forged the development capital partnership based upon Korsail's large pipeline of upcoming projects, strong track record, and experienced team. "Korsail has an impressive portfolio of high-quality solar and storage projects under development in various markets, which are a great fit for SolRiver's investment platform. Moreover, we're backing Korsail's passionate team that has over 500MW of successful clean energy projects under their belt," said Nick Gazzolo, Partner at SolRiver Capital.
Korsail focuses on developing community-oriented clean energy systems that assist the local grid. By collaborating with landowners, utilities, and the community, Korsail designs projects that generate positive impacts for generations. Each project provides jobs, increases the tax base, and finds public works projects within the communities.
"SolRiver's co-development partnership with Korsail provides the perfect example of value-added capital. Korsail will be able to tap into SolRiver's extensive network across the country, and benefit from the SolRiver team's deep expertise in complex energy markets," explained Don Buchholz, VP of Development at Korsail. "In addition, SolRiver's investment provides Korsail the capital to fund the major development expenses and corporate overhead required to succeed with our transformative portfolio of projects."
About SolRiver Capital
SolRiver Capital is a solar investment fund dedicated to financing the acquisition, development, and construction of distributed generation and utility-scale projects. Founded in 2016, SolRiver owns and operates over 180MW of solar and storage projects across the U.S. from Oregon to New York. SolRiver utilizes a streamlined approach to underwriting and transactions, allowing it to close and fund projects quickly. For more information on SolRiver Capital, visit www.solrivercapital.com.
About Korsail Energy
Korsail Energy (www.korsail.com) was founded by a group of solar finance and development experts with a combined 500+MW of development, funding, and M&A experience. Based in Denver, Colorado, Korsail develops solar and storage projects from coast to coast. Korsail was created to leverage its unique combination of skills and create a top-down, offtake-focused development company with the reach and funding to bring projects to operation. Korsail is private equity backed, well-capitalized and actively looking to develop projects across the country.
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Source: SolRiver Capital