Renewable Social Benefit Funds and Xzerta Energy Group Announce The Sol Haven Fund

NEW YORK--(BUSINESS WIRE)--Renewable Social Benefit Funds, and Xzerta Energy Group today announced the formation of a solar-focused safe harbor fund targeted at $200-400 million of projects. The Fund, named Sol Haven Fund, will be immediately reaching out to industry front line developers, EPC providers, integrators and installers to identify and facilitate realization of solar projects qualifying for safe harbor under the current ITC Grant program.
 
Renewable Social Benefit Funds, whose sole focus is assisting nonprofits and municipalities in obtaining clean energy without upfront cost while producing immediate and long-term energy savings, is leading this effort to make sure that these projects remain viable and will actually be built. “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,” said 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.”

The solar industry has been fueled over the last few years by the creation of the Federal ITC Grant program, expected to sunset December 31st of this year. This program has provided significant assistance to the renewable energy sector and has helped to facilitate its growth. The expected expiration of this program will mean many good projects that would otherwise provide millions of dollars of value to local communities in the form of energy savings and new jobs may never come to fruition.

The fund will be targeting the safe harbor of over 100 megawatts of projects for 2012. Xzerta Energy Group is an affiliate of Aurgia Holdings, which will be facilitating the financing for these projects. According to John Tartaglia, CEO of Xzerta Energy Group: “Solar projects provide attractive returns for our clients, while at the same time benefitting local communities and the environment. We are pleased to be partnering with Renewable Social Benefit Funds to bring this Fund to reality.”

For more information on how your project can be part of this program, please contact Jonathan Jaffrey at 855-RSB-FUND or at jdj@rsbfunds.com or Lauren Carson at 646-998-6457 or at lauren@xzertaenergy.com.