Verdant Commercial Capital completed the funding of the last of a portfolio of solar projects that were launched by EDPR NA Distributed Generation (EDPR NA DG) in a series of sale-leaseback transactions for distributed generation solar projects in the U.S. The lessor of the transactions was Flagstar Financial & Leasing. The law firm of Norton Rose Fulbright represented EDPR NA DG.
Started in 2021, the portfolio was comprised of more than 25 solar projects mounted on Walmart stores and YMCAs in Minnesota, as well as other commercial and industrial and community solar projects in New Jersey, New York, Rhode Island and California. EDPR NA DG provides renewable energy services across North America.
“Verdant is proud to finance this series of solar projects for EDPR NA DG and to be a partner with Flagstar Financial & Leasing and Norton Rose Fulbright,” John Merritt, executive vice president of Verdant Commercial Capital, said. “With the rise in popularity of solar energy, Verdant’s renewable and energy efficiency team has been able to ensure the funding of projects that will make a difference to companies as well as individuals.”