Sol Systems launches solar PPA + community investment fund with Microsoft
Sol Systems, a national solar company focused on linking renewable energy procurement and investments to community impact, has announced its first set of investments related to its Master Power Purchase and Community Impact Agreement with Microsoft. The partnership combines a framework agreement to purchase 500 MW of power with a pioneering strategy to invest in under-resourced communities and people disproportionately affected by climate change.
“We are proud to partner with these innovative organizations and to be the start of the very important journey we have taken with Microsoft. These partnerships are the seed of Sol’s long-term efforts and holistic strategy to maximize community impact as we develop and operate a renewable energy infrastructure that will empower America’s future,” said Yuri Horwitz, co-founder and CEO of Sol Systems.
As a first step, Sol Systems has contributed $200,000 to four community-based organizations in Philadelphia, Baltimore and Washington, DC, and a new national nonprofit focused on increasing diversity in the solar industry. Through the partnership, Sol will invest at least $50 million in underserved communities in the US with approximately $1.2 million by 2022. The five initial partner organizations are: GRID Alternatives Mid-Atlantic, PowerCorps PHL, Bright Solar Futures, Groundswell and Black Owners or Solar Services (BOSS). Each partnership is unique and focuses on workforce development, access to energy or community resilience. This first step is intended to lay the foundation 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 the solar workforce for people of color and in our region’s most disadvantaged communities,” said Elijah Perry, executive director of GRID Alternatives Mid-Atlantic.
News item from Sol Systems