NEW YORK, April 11, 2024 /PRNewswire/ -- Sunrock
Distributed Generation, a commercial solar and clean energy
development and management platform, announces today its tax equity
partnership with Nelnet, Inc. (NYSE: NNI), marking a significant
step towards enhancing energy sustainability, building power grid
resiliency, and reducing carbon emissions in local communities.
The partnership combines the extensive expertise of Sunrock and
Nelnet to finance and construct ongoing portfolios of distributed
generation assets across several states including California, Illinois, New
Jersey, and New York. The
construction of initial projects is already underway.
Wilson Chang, CEO of Sunrock,
comments, "Sunrock is thrilled to announce our financing
partnership with Nelnet, Inc, which will enable us to build even
more solar and distributed generation assets originated and
developed using our proprietary underwriting system and automated
technology platform.
"Together, Sunrock and Nelnet are on a journey to help local
businesses, public entities, and nonprofits save money and
transition towards renewable energy, while contributing to a
cleaner, greener future for generations to come," he adds.
Scott Gubbels, Executive Director
of Renewable Energy at Nelnet, Inc. says, "Our partnership with
Sunrock furthers Nelnet's commitment to renewable energy projects
that deliver tangible environmental and economic benefits. We are
excited to be working in close partnership with Sunrock's
experienced team of financiers and operators in scaling out the
origination, development, and construction of a diversified
portfolio of distributed generation assets."
For more information about Sunrock and Nelnet Renewable Energy
please visit the websites at www.sunrockdg.com and
www.nelnetenergy.com.
About Sunrock Distributed Generation:
Sunrock originates, develops, and manages commercial solar,
storage and electrification assets at various stages of
development. The company's mission is to offer a trusted,
streamlined platform for organizations and local communities of all
sizes to access distributed energy. With a network of 400+
installer partners across the country, and a team with decades of
experience building leading solar and distributed generation
companies, Sunrock helps businesses, public entities and
non-profits invest in a smarter, more cost-effective future.
Sunrock's rapid pricing assessments, proprietary underwriting
system and automated technology platform allow the company to
provide competitive financing option and unmatched project
execution efficiency. Sunrock Distributed Generation is a portfolio
company of Greenbacker Development Opportunities Fund I, LP,
an investment vehicle affiliated with Greenbacker Capital
Management LLC. For more information, please visit
www.sunrockdg.com
About Nelnet, Inc.:
Nelnet (NYSE: NNI) is a publicly traded diversified financial
services and technology company focused on offering educational
services, technology solutions, professional services,
telecommunications and asset management. Nelnet Renewable Energy
Services is the company's renewable energy investment, management
and development business. Nelnet Renewable Energy Services is an
experienced tax equity investor and fund manager in distributed
generation solar projects. Between Nelnet's capital and capital
from its co-investors, the collaborative platform has funded
approximately $600 million of capital
into renewable energy projects. This renewable energy experience,
coupled with Nelnet's proven asset management capabilities from its
loan servicing portfolio and its alignment of interest as an
investor alongside its partners, allows Nelnet to offer a unique
co-investment platform to accredited investors based on shared
value creation and positive environmental and social impact. For
more information, visit NelnetInc.com/co-investing.
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