SunRocket Capital Funds 1.93 MW Solar Project in Sidney, Maine

“It is our mission to understand the needs of our client developers and to assure them that they have a financial partner that will close their construction to permanent loan needs,” said Derek Gabriel Sr., Head of Originations at SunRocket Capital. “We see Novel Energy Solutions as great partners and will always work diligently to meet the goals of our clients.”

The previous projects funded by SunRocket Capital for Novel Energy Solutions included four solar projects that are currently in various stages of development across Maine and Minnesota. With the fifth project in Sidney, ME, a combined total of over USD 28.8 million in funding has been deployed for Novel Energy Solutions community solar portfolio by the SunRocket Capital team. The financing for these projects will provide critical support as they transition from construction to operational status.

Among the projects funded are Swartley, Philbrick, and Lebanon located in Maine, and Hilde located in Minnesota. An additional Minnesota project will be added later this month. These projects will be completed by late 2025, with each set to come online within 12 months of their respective closing dates.

The closing of these deals builds on a strong history of collaboration between SunRocket Capital and Novel Energy Solutions, helping the developer achieve its ambitious goals of bringing clean, renewable energy to underserved regions. Their partnership has allowed Novel Energy Solutions to execute and finance projects at scale, creating sustainable energy solutions that benefit both local communities and the environment.

“SunRocket Capital was able to tailor and coordinate the debt financing to the needs of the project,” stated Matt Sullivan, Project Finance Director at Novel Energy Solutions. “They understood that sometimes development needs may change, especially with an evolving community solar pipeline. The ability to continuously meet the challenges of our portfolio requirements remains very appealing and makes for a strong team. That is why SunRocket Capital continues to stand out.”