Vasari Energy, Inc., a California-based solar energy developer, announced today the company has launched a solar development fund that will invest in large-scale utility solar projects that will power cities, industry, and major corporations. “By developing projects that significantly reduce carbon emissions, our projects also contribute to the fight against climate change,” said Sam Lipman, CEO of Vasari Energy.
Utility solar has not been available to individual investors – until now. Investments in utility solar development projects has been the exclusive domain of major corporations, institutions, utilities, and the super wealthy.Reasons for this include that there is a limited number of private utility-scale solar developers and minimum investments in a single project can be very high, leaving out the individual investor.The Vasari Utility Solar Fund offers individual investors and small institutions access to utility solar projects through pooling of capital and diversifying capital over multiple projects.
The Fund intends to acquire control of project sites and undertake all areas of development including environmental studies, transmission feasibility and system impact studies, design, engineering, permitting, and obtaining a power purchase agreement with a qualified buyer of power such as a utility, city government, or high credit quality corporation. The Fund may build and operate the projects or sell fully the permitted projects to a tax equity buyer, utility, independent power producer or other qualified buyer who will carry out the construction, commissioning and operation of the solar energy generating facility.
About Vasari Energy
Vasari Energy, Inc. is a California-based solar energy developer established to develop, engineer, build, and operate utility-scale electric power plants that produce reliable and clean energy. Vasari uses the broad experience of its management team in order to play an active role in all phases of renewable energy generation, from planning and development through construction and commercial operation.