New Financing Ignites Alternative Energy Development Group’s Growth

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SolarSense
Springfield VT Site SolarsSense Vista Today Chester County Business News
SolarSense's second project for the Vermont's State Correctional Facility in Springfield and the State Office Complex in Springfield closed June 30, 2015 for $1.7 million

A bank’s infusion of money into a Berwyn solar company has blazed a path for three new solar energy projects in the state of Vermont.

The future is bright for Alternative Energy Development Group and its affiliate SolarSense, which received a full charge of more than $3.7 million from Crestmark, according to an ABL Advisor report.

VISTA Today
Larry Pearce, Managing Director of Corporate Joint Ventures at Crestmark Bank.

“We’re excited about being able to help this company and the growing alternative energy industry,” Crestmark Senior Vice President and Managing Director of Corporate Joint Ventures Larry Pearce said in the article. “The AEDG team is solid with a great reputation, and we look forward to working with them as they move forward and develop future projects.”

The first project funded was a $2 million, 500-kilowatt installation for the State of Vermont Northeast Corrections Complex; the second was a $1.7 million, 500-kilowatt project at the state’s Springfield correctional facility and office complex; and the third is a coming 500-kilowatt deal set to close next month. The State of Vermont signed power purchase agreements with SolarSense for all three renewable energy projects.

Read more about the financing deal in ABL Advisor here.

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