US solar developer Korsail Energy has secured a development capital commitment from renewables investment fund SolRiver Capital.
The investment will enable Colorado-based Korsail to drive its 2GW of solar and storage projects to completion, according to the companies.
Don Buchholz, VP of development at Korsail, said the investment will provide the developer with the capital to fund the major development expenses and corporate overhead required to succeed with its portfolio.
Collaborating with landowners, utilities and communities, Korsail develops solar and storage projects across the US.
“Korsail has an impressive portfolio of high-quality solar and storage projects under development in various markets, which are a great fit for SolRiver’s investment platform,” said Nick Gazzolo, partner at SolRiver Capital.
Dedicated to financing the acquisition, development and construction of distributed and utility-scale solar projects, SolRiver currently owns and operates more than 180MW of PV and storage plants in the US.
The investment fund announced the completion of a 14MW solar project in South Carolina earlier this month.