January 28, 2020 – Independence Solar, a turnkey developer and installer of commercial solar since 2007, is proud to announce Sea Oak Capital’s acquisition of a 10 MW solar development from its portfolio. Located in Massachusetts, the solar projects are qualified for community solar under the SMART program, and Independence Solar has also contracted to provide Sea Oak turn-key installation services for a portion of the portfolio.
“We are excited to partner with Sea Oak on this portfolio of projects that we originated and developed,” said James Schwartz, Chief Executive Officer of Independence Solar. “Both companies are committed to building high-quality solar systems, so it was a natural fit to team up. We look forward to working with Sea Oak to bring these projects online in the coming year.”
Sea Oak Capital is a tax-advantaged fund and asset manager specializing in renewable energy investments. “We are pleased to announce the addition of another 10 MWs of Massachusetts community solar projects to our rapidly growing solar portfolio,” said Dan Poydenis, Chief Executive Officer of Sea Oak Capital. “We would like to congratulate the Independence Solar team for their professionalism and hard work to make this acquisition happen. We continue to aggressively target additional Massachusetts projects qualified under the SREC and SMART programs in support of our 2021 goal of 100 MWs of operating solar projects under management.” Independence Solar (www.independencesolar.com) is a turnkey developer and installer of commercial solar energy. Since 2007, the team has developed and built over $200 million of solar projects, including one of the largest rooftop solar arrays (10 MW) in North America at the Gloucester Marine Terminal.
Independence Solar forges long-term partnerships with our clients by providing the complete suite of solar services – development, financing, installation, and ongoing maintenance. In order to better service our projects, we operate local offices in NJ, CT, MA, and PA. Sea Oak Capital (www.seaoakcapital.com) is a tax-advantaged fund and asset manager specializing in renewable energy investments that can self-monetize the investment tax credits and depreciation benefits generated by such projects. The firm acquires operating and substantially developed solar projects across the United States through a variety of transactional structures.
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Sea Oak (www.seaoakcapital.com) is a tax-advantaged fund and asset manager specializing in renewable energy investments that can self-monetize the investment tax credits and depreciation benefits generated by such projects. The firm acquires operating and substantially developed solar projects across the United States through a variety of transactional structures.
Independence Solar (www.independencesolar.com) is a turnkey developer and installer of commercial solar energy. Since 2007, the team has developed and built over $250 million of solar projects, including the largest rooftop solar array (10.1 MW) in North America at the Gloucester Marine Terminal. Independence Solar forges long-term partnerships with our clients by providing the complete suite of solar services – development, financing, installation, and ongoing maintenance. In order to better service our projects, we operate local offices in NJ, CT, MA, and PA.
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