Renew Projects

How Forbright Bank supported a customer’s expansion into solar.

Overview:

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.

Approach:

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.

Results:

  • 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.

Conclusion:

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.

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