How Forbright Bank supported a customer’s expansion into solar.
Renew Projects, LLC (Renew Projects) is a small business based out of Herndon, Virginia, which recently expanded into solar product offerings from their original business model of manufacturing energy efficient LED lighting.
Forbright Bank provided a $450,000 Power Purchase Agreement and Solar Renewable Energy Credit secured loan to help Renew Projects pursue their mission as a purveyor of renewable energy solutions.
- The financing allowed Renew Projects to maintain a newly install 206.1kW photovoltaic roof top solar system, allowing them to continue to grow their operations.
- The system is helping alleviate stress on the electric grid while providing a cost-saving source of clean renewable energy.
Forbright Bank is proud to finance the expansion of Renew Projects’ offering, and as a result, help companies large and small take action to speed the transition to a low-carbon economy.