Gardner Capital financed six newly-completed North Carolina solar projects

Gardner Capital Inc., an investment and solar project developer, said Feb. 2 that it provided tax equity financing for six solar utility-scale photovoltaic generation systems totaling 37.5 MW located on rural property throughout North Carolina.

The projects, developed by Heelstone Energy LLC, will provide electricity to the Duke Energy and North Carolina Eastern Municipal Power Agency (NCEMPA) companies, generating an estimated 56,879 MWh of clean solar power in the first year of operation. All six plants, in operation since December 2014, are located near Raleigh-Durham. The North Carolina projects mark the first solar development for Gardner Capital

“Solar energy is a viable mainstream alternative clean energy source and part of our energy future. We’re thrilled that these sustainable development projects will have a definite impact on energy savings and the environment for years to come,” said Michael Gardner, principal of Gardner Capital and president of Gardner Capital Solar Development.

Gardner Capital owns and operates several businesses throughout the United States, focusing on development, investment and syndication of tax credits for affordable housing, historical rehabilitation and renewable energy projects. Gardner has invested more than $600m of equity in affordable housing. Most recently, Gardner Capital introduced renewable energy production facility development and investment into its operating portfolio. The company’s principals are Mark Gardner and Michael Gardner.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.