ATLANTA, April 23, 2024 (GLOBE NEWSWIRE) -- Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, and Elawan Energy, a global operator in the renewable energy industry, are pleased to announce the substantial completion of two utility-scale solar projects in Q4 2023. The projects, located in Hill County and Bosque County, Texas, mark a significant milestone in the companies' commitment to clean energy and sustainability.
The projects include Pitts Dudik, which boasts a capacity of 60.26 MWdc, and Dileo, which contributes an additional 86.67 MWdc. Together, these projects represent a total capacity of approximately 147 MWdc, providing clean and renewable energy to the region.
"We’re proud to have joined forces with Elawan Energy on these strategically-sited solar projects," said Bryan Didier, Partner & Managing Director of Renewable Energy at Monarch. "Pitts Dudik and Dileo are great examples of tax credit equity investments. Not only are they accelerating the energy transition to sustainable resources, but they are also fostering economic growth, job creation and innovation in their Texas communities."
The positive impacts of these projects extend beyond clean energy generation. Over the next 40 years, the projects are expected to abate 4,688,232 CO2e MT, equivalent to the greenhouse gas emissions from over a million gasoline-powered passenger vehicles driven for one year, and will create nearly 600 jobs.
“Delighted to announce the completion of two solar projects in partnership with Monarch, bringing clean and renewable energy to Hill and Bosque counties,” said Gonzalo Rodriguez Tortosa, Business Development Officer and Chief Operating Officer at Elawan Energy North America. “We want to thank both counties for their continued support and are very happy that the projects will have a positive impact on the local communities, helping not only from an economic perspective but also in the reduction of greenhouse gas emissions.”
For more information on Monarch’s renewable energy tax equity investments, please contact Bryan Didier by emailing bdidier@monarchprivate.com. For more information on Elawan’s integrated solutions, please contact Gonzalo Rodriguez Tortosa by emailing gonzalo.rodriguez@elawan.com.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.
About Elawan Energy
Elawan Energy is a global player in the renewable energy sector, providing integrated solutions throughout the green energy lifecycle, including promotion, development, construction, operation, maintenance, and sale of energy produced by solar, wind, and mini-hydro power plants. Operating in 14 countries and employing over 150 people, Elawan Energy is a part of ORIX Corporation.
CONTACT
Jane Rafeedie
Monarch Private Capital
jrafeedie@monarchprivate.com
470-283-8431
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d53959ed-d4d6-4921-846d-478d370f4161
