In partnership with the Prometheus Power Group, a Michigan-based developer with a focus on Community Solar initiatives, National Trust Energy Capital provided an equity investment in the $3.3 million in Solar Investment Tax Credits (ITC) generated by the development of the solar site in Eastport, Maine. This is National Trust Energy Capital v’s first investment with Prometheus Power Group and ninth collaboration with investor PeoplesBank.

The Eastport project will serve a mix of residential and commercial subscribers through Maine’s Community Solar program, offering a  15% fixed discount  on all allocated bill credits. The project also qualifies for the 10% Domestic Content adder under the Inflation Reduction Act, supporting U.S.-based manufacturing by utilizing domestically manufactured panels.

Prometheus Power Group is a developer and operator of community solar projects in the Northeastern, Mid-Atlantic, Midwestern, and Mountain West of the United States. The team has 150 MW in projects developed or in their near-term pipeline.  Prometheus led the acquisition of the Eastport project from the original project developer, MidCoast Solar LLC, to their operating venture, Nugenics Solar LLC. To learn more about Prometheus Power Group, click here.