Excelsior Energy Capital has announced that it has acquired five ground-mount solar projects from Nokomis Energy, its development partner. The Kingfield Portfolio that is located in Southern Minnesota totals about 6.3 MW_DC while also bringing the total portfolio of Excelsior in terms of ground mount solar projects across Minnesota to up to 21.6 MW_DC, as a part of a larger partnership with Nokomis Energy.

Excelsior shall be investing equity in portfolio at the beginning of construction and shall work with its already existing financing partners to be able to arrange construction debt, permanent debt and tax equity.

Apparently, Excelsior has secured commercial operation for first 10 projects in the Wenonah Portfolio, which essentially consists of 12 project portfolio totaling 15.3-MW_DC in ground-mount solar projects in Minnesota that was bought from Nokomis Energy in the previous year, besides having bought a second tranche of new projects from Nokomis Energy. The 2 projects that are remaining are expected to finish construction by Q2 2020.

The Wenonah Portfolio and the Kingfield both have participated within the Minnesota Community Solar Garden (CSG) program that has been administered for Excelsior’s portfolio by Xcel Energy. Within the guidelines of the program, the projects are usually contracted under the PPA of 25 years with a large set of non-utility consumers like school districts, several commercial customers and municipalities.

The CSG program helps all the non-utility consumers to be able to offset a few or most of their electricity use from clean power that is generated by the projects located within the home state.

Excelsior’s partner, Ryan Fegley announced the second closing with Nokomis Energy while aiming to secure the completion of the construction as well as the beginning of the operations on the very first of its 10 projects within the state of Minnesota. The company has been looking forward to continuing the replication of its multi-year investment plans with different partners such as Nokomis Energy.

Source Credit- https://www.solarpowerworldonline.com/2020/05/excelsior-energy-capital-nokomis-minnesota-community-solar/