Commercial, Finance, Industrial, Solar - March 10, 2020
Goldman Sachs & TELOS launch new C&I solar initiative
Goldman Sachs announced March 10 a new initiative to invest up to $275 million in financing for solar projects that will sell power to commercial, industrial and municipal customers.
The banking institution’s Alternative Energy Investing Group teamed up with TELOS Clean Energy on the project to fund the development, construction, ownership and operating of these distributed solar power projects. Goldman Sachs will finance the activities and own certain assets, while combining financing from several parties via tax equity, debt and sponsor investments into a single capital source.
Additionally, TELOS Clean Energy will develop and construct the solar project portfolio.
“This joint venture with Telos is an example of our commitment to investments in the distributed solar space and affirms our strategy of providing comprehensive financing solutions to sponsors,” Goldman Sachs’ Vivek Kagzi said in a statement. “We have been impressed with the track record of the Telos principals and look forward to working with them to build upon their success."