A unit of US Bancorp provided the financing, which provides long-term renewable energy tax equity financing for multiple distributed generation, net-metered solar projects.
Last month, KDC Solar completed the first installation in the portfolio – a 3.25MW rooftop mounted solar system at a warehouse in Cranbury, New Jersey.
The company is expected to complete the second installation – a 3.5MW solar system at a warehouse in South Brunswick, New Jersey – in late December or early 2012.
KDC Solar CEO Hal Kamine said this recent addition to KDC’s capital structure will allow the company to pursue and accelerate its commitment to ‘behind-the-meter’ solar electric systems for businesses, governments and institutions in New Jersey.
