Sol Systems Launches PPA+ Solar Community Investment Fund with Microsoft
Sol Systems, a national solar energy company focused on coupling renewable energy supply and investments with community impact, announced its first round of investments associated with its Master Power Purchase Agreement and of community impact with Microsoft. The partnership combines a 500 MW Master Power Purchase Agreement with a game-changing strategy of investing in under-resourced communities and people disproportionately affected by climate change.
“We are proud to partner with these innovative organizations and begin the very important journey we have embarked on with Microsoft. These partnerships are the seeds of Sol’s long-term effort and holistic strategy to maximize community impact as we develop and operate renewable energy infrastructure that will power America’s future,” said Yuri Horwitz, co-founder and CEO of Sol Systems.
Initially, Sol Systems donated $200,000 to four community-focused community organizations in Philadelphia, Baltimore, and Washington, D.C., and a new national nonprofit focused on increasing diversity in the solar industry. Through this partnership, Sol will invest at least $50 million in underserved communities across the United States, with approximately $1.2 million in 2022. The five initial partner organizations are: GRID Alternatives Mid-Atlantic, PowerCorps PHL, Bright Solar Futures, Groundswell and Black Owners of Solar Services (PATRON). Each partnership is unique and focuses on workforce development, energy access or community resilience. This first step aims to lay the foundations for future partnerships and future investments over the next 20 years.
“We are grateful for this partnership with Sol Systems, which gives us the opportunity to expand our workforce development footprint in the district and beyond. Communities are increasingly marginalized. This investment will advance environmental justice by creating pathways to solar labor for people of color and in our region’s most underserved communities,” said Elijah Perry, Executive Director of GRID Alternatives. Mid Atlantic.
Sol Systems News Article