$800 Million Fund for Large-Scale Solar Power Announced
CleanPath is a new renewable energy investment firm that made some waves at this year's Renewable Energy Finance Forum (a major annual conference in New York that, true to its name, pairs clean energy companies and financiers). The firm announced the creation of an $800 million fund designed to finance solar power projects around the nation.
I had a chance to speak with the firm's CFO, Karin Berardo, and she spelled out the details of a fund designed to bring 1,000 MW of clean power online in North America over the next five years. $800 million can help fire up a lot of solar development -- and that's precisely what Berardo and her partners intend to do. The firm plans on stepping in and helping to finance fledgling solar projects across the nation, anywhere from 5-100 MW in generating capacity.
The capital for the fund was primarily contributed by one U.S.-based company, which Berardo wouldn't disclose. The projects will span California, the Midwest, Mexico, Central America, and the Northeast.