September 14 (Solar) – Denver-based solar developer SunShare LLC said Thursday it has obtained USD 11 million (EUR 9,460,000) in construction and term project financing from ANB Bank for the construction of 8.2 MW of community solar gardens in Minnesota.
The capacity of the projects is in direct current (DC).
Construction has started on the 6.9-MW SaintSun and 1.3-MW ZumbroSun projects, located in Saint Michael and Zumbro Falls, respectively. Conti Solar, a full turnkey engineering, procurement and construction (EPC) services contractor, is building the two community solar projects, expected to reach mechanical completion in October 2018.
SaintSun and ZumbroSun will comprise six community solar gardens, serving around 1,200 households in Carver, Wabasha, and counties in the vicinity, as well as Saint Mary’s University. Subscribers will start getting clean power and credits on their Xcel Energy utility bills from late 2018 or early 2019.
To date, community solar programmes and regulations exist in 19 American states, resulting in projects with gigawatts of capacity. SunShare has over 90 MWdc of operating community solar gardens in its portfolio.
ANB is part of Sturm Financial Group Inc.