from PRNewswire.com, via Reactivate
Reactivate, a community solar platform supporting renewable energy development in underserved communities, today announced that it has completed its first transaction to develop a portfolio of Illinois Solar For All (ILSFA) solar projects in partnership with Trajectory Energy Partners, a leading Illinois-based solar developer.
The portfolio aims to generate over 6,000 kWp at sites across the state of Illinois as part of the ILSFA program. The projects not only bring more affordable renewable energy to low-to-moderate income communities, but also facilitate equality by creating contracting opportunities for minority and women-owned businesses within these areas.
“We’re excited to be investing in this portfolio of projects,” said Utopia Hill, Head of Engineering, Procurement and Construction at Reactivate. “These developments align with our core mission of supporting local growth and will allow us to actively bring renewable energy and equitable job opportunities into these communities. Community solar projects like these create a virtuous cycle – reducing household energy costs in low-to-moderate income areas, while introducing meaningful wealth creation initiatives for residents via career training and employment opportunities within local businesses.
The deal marks Reactivate’s first transaction in Illinois as it continues to move towards its mission of positively impacting the economy and delivering benefits to low-to-moderate income communities via the implementation of renewable energy. Directly aligned with Reactivate’s mission, ILSFA provides greater access to the clean energy economy for low-income communities through incentives that help make solar installations more affordable and result in measurable savings for participants. Furthermore, the transaction highlights the potential for these developments, and points to the success of Illinois’ recently enacted Clean Energy & Equitable Jobs Act – which greatly increased the scale of the ILSFA program.
“The Climate and Equitable Jobs Act (CEJA) more than doubled the size of the Illinois Solar for All program, which provides greater access to the clean energy economy for low-income communities,” said Christian Mitchell, Deputy Governor for the State of Illinois. “Today’s announcement by two companies founded and based in Illinois builds on the work we did in CEJA to expand renewable energy and economic opportunities for workers and communities across the state. Projects like these are good for the planet, good for workers, and good for communities throughout Illinois.”
“We are excited to partner with Reactivate on these projects,” said Jon Carson, Founder and Managing Partner of Trajectory Energy Partners. “Since Illinois Solar for All started in 2019, Trajectory has worked hard to ensure the success of this important program. Trajectory has developed projects across the state that are already lowering utility bills for families in low-income communities, and we look forward to building on this track record of success with Reactivate.”
Launched in January 2022 as a joint venture between Invenergy, the leading privately-held global developer, owner and operator of sustainable energy solutions, and impact investment platform Lafayette Square, Reactivate seeks to develop three gigawatts of renewable energy capacity, save $50 million in energy costs for low and moderate-income households, sign 100 contracts with minority or women-owned contractors, and facilitate workforce training for 2,500 underserved workers by 2030.
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy’s home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.
About Lafayette Square
Lafayette Square is a commercially scaled investment platform built for and enhanced by its commitment to impact. Lafayette Square deploys long term capital alongside impactful services to local communities across America through its credit, real estate, and renewables divisions.
Lafayette Square’s mission is to be the leading provider of impact driven capital working toward a more inclusive economy. For more information about Lafayette Square, please visit www.lafayettesquare.com.
About Trajectory Energy Partners
Trajectory Energy Partners is an Illinois-based solar developer that pairs local stakeholder engagement with deep expertise in solar finance and policy. Trajectory develops high-quality projects that will benefit communities, energy users and landowners for years to come. For more information on Trajectory, please visit www.trajectoryenergy.com.