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Sol Systems launches solar PPA + community investment fund with Microsoft

Written by: Leonard Parker | solar news | January 26, 2022


Sol Systems, a national solar energy company focused on coupling renewable energy procurement and investment with community impact, has announced its first set of investments associated with its Master Power Purchase and Community Impact Agreement with Microsoft. The partnership combines a 500-MW framework power purchase agreement with a groundbreaking strategy to invest in under-resourced communities and people disproportionately impacted by climate change.

“We’re proud to be partnering with these innovative organizations and beginning the very important journey we’ve undertaken with Microsoft. These partnerships are the seeds of Sol’s long-term effort and holistic strategy to maximize community impact as we develop and operate renewable energy infrastructure that will power America’s future,” said Yuri Horwitz, co-founder and CEO, Sol Systems.

As an initial step, Sol Systems has contributed $200,000 to four community-based organizations focused on communities in Philadelphia, Baltimore and Washington, D.C., and one new national non-profit focused on increasing diversity in the solar industry. Through the partnership, Sol will invest at least $50 million in underserved communities across the U.S. with approximately $1.2 million in 2022. The five initial partner organizations are: GRID Alternatives Mid-Atlantic, PowerCorps PHL, Bright Solar Futures, Groundswell and Black Owners of Solar Services (BOSS). Each partnership is unique and is focused on workforce development, energy access or community resiliency. This initial step is intended to lay the groundwork for future partnerships and future investments over the next 20 years.

“We’re grateful for this partnership with Sol Systems, which gives us the opportunity to expand our workforce development footprint in the District and beyond. Communities are becoming more and more marginalized. This investment will advance environmental justice by creating pathways into the solar workforce for people of color and in the most underserved communities in our region,” said Elijah Perry, executive director of GRID Alternatives Mid-Atlantic.

News item from Sol Systems



Source:
https://www.solarpowerworldonline.com/2022/01/sol-systems-solar-ppa-community-investment-fund-microsoft/