GreenFront Energy Advises Secure Futures Solar on $25 Million Commitment to Finance Commercial Solar Power Projects in Southeast
Equity Investment from Alerion RE will Support Solar Projects in Education, Healthcare and Local Government in Virginia, West Virginia and North Carolina
June 22, 2021
GreenFront Energy Partners is pleased to announce the successful close and first funding of Alerion RE, LLC’s $25 million commitment to Secure Futures, LLC. This equity financing will be used to develop, own, and operate distributed generation solar power projects in Virginia, West Virginia, and North Carolina. "Coming in to projects with secured financing at favorable terms will allow Secure Futures to offer the most competitive rates on PPAs and service agreements to our customers, providing the best value on solar power," said Dr. Tony Smith, President and Founder of Secure Futures. "We can now compress the timeline to provide on-site solar power to customers in education, healthcare and local government."
GreenFront served as exclusive financial advisor to Secure Futures, performing investment banking and advisory work to support the capital raise. "The GreenFront team members were great to work with throughout our capital search process, and in securing and negotiating with the right investment partner to support our growth trajectory. We could not have imagined better teaming or investment partners." said Smith. GreeneHurlocker PLC represented Secure Futures in the transaction.
Link to PR Newswire announcement.
About Secure Futures, LLC
As a market and policy leader, Secure Futures builds, owns, manages and funds affordable Resilient Solar Solutions® for colleges and universities, schools, hospitals and businesses. Based in Staunton, Va., with offices in Richmond, Va, Wise, Va, and Charlotte, NC, the company combines state-of–the-art solar technology with an innovative business model to make commercial scale solar readily affordable in the Mid-Atlantic and Southeast, helping customers to realize the economic, environmental, and community benefits of solar energy. As a Certified B Corp®, Secure Futures has met the exacting standards for social and environmental performance, transparency and accountability established by the nonprofit B Lab®. For more information: www.securefutures.solar.
About Alerion RE, LLC
Alerion is a subsidiary of The Hartz Group, Inc. ("Hartz"), one of the largest privately-owned real estate development firms in the United States. Hartz has ranked among the top 25 U.S. Corporate Solar Users each year since 2013 as rated by the SEIA. Alerion was established in 2014 by Hartz to serve as an investment vehicle for renewable energy projects developed on non-Hartz properties.
This Press Release is for informational purposes only and does not constitute an offer, invitation, solicitation, or recommendation to buy, sell, subscribe for, or issue any securities. While the information provided herein is believed to be accurate and reliable, GreenFront Energy Partners LLC and Ashland Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Certain Principals of GreenFront Energy Partners LLC are registered representatives of Ashland Securities, LLC Member FINRA, SIPC. GreenFront Energy Partners LLC and Ashland Securities, LLC are separate and unaffiliated entities. Securities and Investment Banking Services are offered through Ashland Securities, LLC.