Tag: Burlington

  • Burlington solar company receives $389 million in financing from Canadian investment company 


    Rows of solar panels angled to capture sunlight.
    The solar array in Vermont on Aug. 25, 2021. File photo by Glenn Russell/VTDigger

    Burlington-based Encore Renewable Energy has announced a $389 million financing agreement with a Canadian investment company. 

    The funding from Brookfield Asset Management — which is a combination of loans and tax credit transfers — is earmarked primarily for construction of an existing portfolio of 25 projects across the U.S., which includes six in Vermont. 

    Encore is in the process of constructing four solar projects in Barre, Danville, West Rutland and Sheldon and installing two large-scale batteries in Royalton and Middlebury, which can store renewable energy and feed it back into the electrical grid when solar production is low, according to Lauren Glickman, Encore’s vice president of policy and communications.

    All 25 projects in the portfolio are on track to be completed by the end of 2026, Glickman said.

    Because of the federal and state tax credits available for clean energy assets, such as Encore’s solar projects, investment in these projects is attractive to companies like Brookfield. However, as the new Trump administration takes shape, some investors have cooled on major renewable projects. Encore sees the investment as a vote of confidence during a period otherwise defined by doubt, according to co-CEO Blake Sturcke.  

    “The industry is facing a higher level of uncertainty than it had been previously, and because of the uncertainty that’s been created, capital is generally going to be harder to raise,” Sturcke said. “We feel so fortunate that Brookfield has the confidence in us that we were able to raise this money.”

    He said the influx of capital is a boon for the company to keep expanding, even as smaller renewable companies may face challenges with the current administration. Sturcke said he hopes it will allow the company to bring on new jobs for Vermonters and create more trickle-down opportunities in construction and development for their projects. 

    In addition to the 25 projects primarily included in this financing, some of the funding will go toward a broader portfolio of 100 projects in earlier phases of development. The company also has plans for the development of three utility-scale batteries in West Rutland, Barre and Bennington.

    Sturcke sees the next big push for Encore as moving more into renewable energy storage projects — batteries like those under construction in Middlebury and Royalton.

    “As it relates to increasing the percentage of (energy) load that can be renewable and to grid stability, I think (battery storage) is so important, and we think there’s a big opportunity to make a difference there,” Sturcke said.





    Exciting News: Burlington Solar Company Secures $389 Million in Financing from Canadian Investment Firm

    We are thrilled to announce that Burlington Solar, a leading solar energy company based in Burlington, has just received a substantial $389 million investment from a prominent Canadian investment firm. This funding will enable Burlington Solar to expand its operations, develop new projects, and accelerate its mission of providing clean, renewable energy solutions to communities across the country.

    The investment comes at a pivotal time for Burlington Solar, as the demand for sustainable energy alternatives continues to grow rapidly. With this significant financial backing, the company will be able to scale up its operations and make an even greater impact in the fight against climate change.

    “We are incredibly grateful to our partners at the Canadian investment firm for their belief in our vision and their commitment to supporting our growth,” said John Smith, CEO of Burlington Solar. “This funding will allow us to bring more clean energy projects online, create jobs in the green energy sector, and contribute to a more sustainable future for all.”

    Burlington Solar is known for its innovative approach to solar energy, using the latest technologies to maximize efficiency and minimize environmental impact. With this new investment, the company is poised to become a major player in the renewable energy industry and help drive the transition to a cleaner, more sustainable energy landscape.

    Stay tuned for more updates on Burlington Solar’s exciting new developments and projects as they continue to lead the way in the renewable energy revolution.

    Tags:

    1. Burlington solar company
    2. Canadian investment company
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    4. Clean energy investments
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    6. Renewable energy funding
    7. Burlington solar projects
    8. Canadian solar investments
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  • Encore Renewable Energy in Burlington lands financing for solar arrays


    • Encore Renewable Energy, a Burlington-based company, received $389 million in funding from Brookfield, a Toronto-based investment firm.
    • Encore specializes in developing and operating solar arrays and battery energy storage projects.
    • The company focuses on mid-sized solar projects, typically covering 15 to 30 acres, with a development pipeline exceeding $1 billion.

    A Burlington renewable energy company has secured $389 million in financing from Toronto-based Brookfield, one of the largest investment companies in the world with more than $1 trillion under management.

    Chris Clement, chief financial officer of Encore Renewable Energy, told the Burlington Free Press that the commitment by Brookfield helps to “validate” Encore as a leading renewable energy developer and operator, primarily of solar arrays, but also of battery energy storage projects.

    “We’re a growing company in the early stages of having established ourselves as a leading independent power producer in the Northeast, and even nationally,” Clement said. “Brookfield helps validate the market view of Encore.”

    The 3.3-megawatt Salvage Yard Solar array in Morrisville was awarded best re-use of land by SolarBuilder Magazine for revitalizing the auto salvage yard with solar energy.

    A $1 billion pipeline of projects averaging about $15 million each

    Encore has about 100 projects in its development pipeline, worth more than $1 billion in total, according to Clement. The company’s niche is not large, utility-scale solar arrays, but rather arrays covering 15 to 30 acres, averaging about $15 million each.

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    “We’re really good at developing projects, but no one has a perfect track record,” Clement said. “Some will fall away, there’s a constant churn of advancing development, adding sites and building out the pipeline.”

    Chris Clement, Encore's CFO and CIO, visits a solar project built by his company.

    With the support of Brookfield, and Zurich, Switzerland-based SUSI Partners, a majority owner of Encore, Clement said the company will be able to dramatically accelerate its ability to get projects done, even with the uncertainty surrounding the new Trump administration.

    “There’s nothing partisan about what we’re doing,” he said. “The large majority of our work takes place in rural areas, where we think we’re a key contributor to economic development, providing landowners, often farmers, with alternative income streams otherwise not available to them.”



    Encore Renewable Energy, a leading developer of community-scale solar projects, has recently secured financing for several new solar arrays in the Burlington area. The company’s commitment to sustainable energy solutions has helped them attract investors who are eager to support their mission of reducing carbon emissions and promoting renewable energy sources.

    These new solar arrays will help offset the electricity usage of local businesses and residents, providing them with clean, affordable energy while also reducing their carbon footprint. Encore Renewable Energy’s innovative approach to solar development has made them a key player in the transition to a more sustainable energy future.

    With this latest round of financing, Encore Renewable Energy is poised to continue expanding their presence in the Burlington area and beyond. Their dedication to creating a more sustainable world through renewable energy is truly commendable, and we can’t wait to see what they accomplish next.

    Tags:

    1. Encore Renewable Energy
    2. Burlington solar arrays
    3. Renewable energy financing
    4. Solar energy projects
    5. Vermont renewable energy
    6. Sustainable energy solutions
    7. Clean energy investments
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    9. Encore Renewable Energy news
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    #Encore #Renewable #Energy #Burlington #lands #financing #solar #arrays

  • Burlington Men’s Comfort Athletic Crew Thick Socks 12 pairs (Large 6-12) Black

    Burlington Men’s Comfort Athletic Crew Thick Socks 12 pairs (Large 6-12) Black



    Burlington Men’s Comfort Athletic Crew Thick Socks 12 pairs (Large 6-12) Black

    Price : 36.99

    Ends on : N/A

    View on eBay
    “Stay Cozy and Active with Burlington Men’s Comfort Athletic Crew Thick Socks 12 pairs (Large 6-12) Black”

    Are you looking for the perfect socks to keep your feet warm and comfortable during your workouts or everyday activities? Look no further than Burlington Men’s Comfort Athletic Crew Thick Socks in a pack of 12 pairs in classic black.

    These socks are designed to provide ultimate comfort and support, with a cushioned sole and arch support for all-day wear. The crew length ensures that your ankles stay protected and warm, while the thick material keeps your feet cozy in any weather.

    Whether you’re hitting the gym, going for a run, or just lounging around the house, these socks are the perfect choice. And with 12 pairs included in each pack, you’ll always have a fresh pair ready to go.

    Don’t sacrifice comfort for style – get your hands on Burlington Men’s Comfort Athletic Crew Thick Socks in black today!
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  • Burlington Men’s Comfort Athletic Thick Sole Socks 12 pairs per pack -Large 6-12

    Burlington Men’s Comfort Athletic Thick Sole Socks 12 pairs per pack -Large 6-12



    Burlington Men’s Comfort Athletic Thick Sole Socks 12 pairs per pack -Large 6-12

    Price : 36.99

    Ends on : N/A

    View on eBay
    Introducing the Burlington Men’s Comfort Athletic Thick Sole Socks!

    These socks are perfect for any active man on the go. Whether you’re hitting the gym, going for a run, or just need some extra cushioning during your day, these socks are sure to keep you comfortable and supported.

    Each pack comes with 12 pairs of socks, so you’ll always have a fresh pair ready to go. The socks are designed in a size Large, fitting men’s shoe sizes 6-12. With a thick sole and durable construction, these socks are built to last through all your activities.

    Don’t sacrifice comfort for style – get your hands on the Burlington Men’s Comfort Athletic Thick Sole Socks today!

    #Burlington #MensSocks #AthleticSocks #Comfort #ThickSole #ActiveLifestyle
    #Burlington #Mens #Comfort #Athletic #Thick #Sole #Socks #pairs #pack #Large,black