Invest in a solar array for an innovative school in Vermont.
Investing in a solar panel array that has been successfully operating and
generating revenue for over 4 years.
Proven track record of steady payment by a long-running, innovative school
Wholly-owned by a well-diversified solar developer with a strong balance
Frees up parent capital to get new early-stage projects built.
Elm Lea Renewable Energy LLC is issuing Senior Unsecured Debt called
Solar Refinance Notes (“Notes”) with the following characteristics:
Minimum principal investment is $500, with incremental amounts of $100
A fixed interest rate of 4.25% per year paid semi-annually for the 5 year
term of the Note.
5 Year final maturity (May 14, 2026).
Target minimum offering amount of $50,000 with a maximum offering amount of
The Notes may be called (repaid) by the Company at any time before the final
maturity date, with a 1% penalty paid to the Investor if called.
In addition to interest, the Investor will receive semiannually a repayment
of their invested principal. So for each of the 10 semiannual payments,
Investors will receive a flat payment that includes interest due plus
repayment of a portion of their principal.
This is an opportunity to invest in Elm Lea Renewable Energy, LLC (Elm Lea), a
wholly-owned subsidiary of Solaris Investment Group (SIG), formed to provide the
Putney School (Putney) in Vermont with clean, renewable energy for 28 buildings
across its campus (Figure 1).
Investors in this securities offering will leverage an already operational
446.4-kilowatt solar project that has been producing clean electricity for
students over the past 4.5 years and has a binding 20 year contract with Putney
to continue purchasing the energy generated from the project.
Figure 1. The Elm Lea solar project powers 28 buildings at the Putney
School, complimenting the school's approach to self-sufficiency,
sustainability, and resilience.
“Solar is no longer just an environmental solution but has financial benefits.
We want more than just big banks to realize those gains.”
- Alex Blackmer, Manager of Elm Lea & CEO of Solaris Energy
Solaris Investment Group (SIG) owns the subsidiary and operates the Elm Lea
solar project at The Putney School in Vermont, as well as 73 other solar project
sites in 7 states worth an estimated value of over $14 million. The vast
majority of these projects are for non-profits, schools, faith-based
organizations, and governments.
Solaris Energy managed the development and construction of the Elm Lea solar
project in 2015-2016, in partnership with the Putney School (Figure 2) and with
upfront capital provided by SIG. Solaris Energy was founded in 2011 from
non-profit roots with a mission to accelerate the widespread deployment of
distributed solar energy systems by offering customers low-cost financing to
reduce their environmental impact, increase their bottom line, and participate
in the worldwide shift to renewable energy.