Sol Haven Fund to Expedite Solar Projects

The Sol Haven Fund has been formed as a "haven" for worthy solar projects to make sure they get built before federal incentives expire.

Renewable Social Benefit Funds, and Xzerta Energy Group formed the fund, which is targeting $200-400 million of projects which add up to over 100 megawatts (MW) in 2012.

The fund is reaching out to solar developers, integrators and installers to help them identify and facilitate rapid development of projects that qualify for safe harbor under the federal ITC Grant program.

"These systems, the savings they produce, and the benefits to the fight against climate change are too important to our local communities to be held hostage by expiring federal incentives," says Jonathan Jaffrey, president of Renewable Social Benefit Funds. "With the difficulties we are experiencing in the economy, we need — more than ever — to make sure that these systems are built."

Xzerta Energy Group is an affiliate of Auriga Holdings, which will facilitate the project financing.

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