Renewable Properties bags US$25 million to build out 1GW community solar pipeline

July 18, 2024

Renewable Properties has secured a $25 million development capital investment to continue developing its 1GW US community solar project pipeline. The capital was provided by West Town Bank and Trust, a long-term partner with the developer which has provided a total of US$50 million in support of 38.5MW of projects since 2019. Renewable Properties said that it will use the funding to begin construction on over 200MW of community solar projects in Illinois, California and New York over the next two years. In addition, some of the capital will support the launch of a new electric vehicle charging infrastructure service that will target medium to heavy-duty electric lorry fleets.