Solar Power Gets $800M Private Sector Boost

CleanPath, founded by MMA Renewable Ventures partners Matt Cheney and Karin Berardo, has announced an investment of $800 million into two revolving facilities across North America that will install large scale solar photovoltaics (PV) projects. CleanPath is a renewable energy investment firm that develops, builds and delivers renewable energy assets to long-term owners.

Over the next 60 months, CleanPath will invest in large scale solar PV technology that will equal over 1,000 MW. Each project will be large-scale and range anywhere between 5 and 100 megawatts of capacity. Completed projects may be owned and operated directly or sold to long-term asset holders. By reducing financial barriers CleanPath believes that North America can become the leader in the solar PV market by 2015.

Photovoltaic panels

image via Greenlight Solar

With over ten years of financing and constructing solar PV projects, the founders of CleanPath believe that the company is a market catalyst.

Founder Karin Berardo said in a statement that “we partner with other developers, with large-scale power consumers, with electric utilities, infrastructure funds and with policy makers to reduce costs, lower barriers, and get PV systems financed and constructed.”