SolarVision secures US$18 million to fund 5MW PV project

Facebook
Twitter
LinkedIn
Reddit
Email

SolarVision, a developer of solar energy projects, has successfully closed an US$18 million transaction to fund its 5MW utility-scale PV project in Celina, Ohio, US. The funding was the result of a comprehensive partnership with New Energy Capital Cleantech Infrastructure Fund, Q-Cells North America, Finance Fund and JPMorgan Chase & Co.

The deal took 18 months to culminate and makes use of new market tax credits (NMTC). The NMTC programme helps to finance business investments in the US. SolarVision is one of the largest NMTC developers for solar power in the country. Including the Celina solar power deal, SolarVision has received a combined total of US$23 million in NMTC. According to SolarVision, the Celine deal represents one of the largest NTMC transactions for solar energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

As part of the partnership, Finance Fund, the company which monetized US$5.3 million in NMTC for SolarVision two years ago for five PV projects in Ohio, helped to secure the state and federal NMTC for the Celina project which covers the entire US$18 million. The NMTC for the Celina project has been monetized by JPMorgan Chase & Co.

The funding was provided by New Energy Capital, which joined the Celina project as an investor. Q-Cells North America, which will supply EPC and PV modules for the project, also provided a bridge financing loan which brought the deal to a close.

The deal between these organizations marks the start of an on-going collaboration on sustainable energy projects throughout the US.

The 5MW Celina solar system will be connected to Celina’s own electric company and will provide enough power to meet around 8% of the city’s annual energy demands.
 

Read Next

July 3, 2025
Renewable energy curtailment in Brazil is set to reach 8% across the country, and be as high as 11% in the north-east, by 2035.
July 3, 2025
Spanish IPP Zelestra has secured a €235 million (US$277 million) increase to its sustainability-linked loan, bringing the total to €770 million.
July 3, 2025
US tracker manufacturer GameChange Solar has introduced the Genius Tracker TF, a new terrain-following solar tracker system designed to deliver “the industry’s lowest grading requirement on challenging terrain.” 
Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
July 3, 2025
TotalEnergies has expanded its renewables assets in the Caribbean, sold a stake in projects in Portugal and begun construction on two PV parks in Spain.
July 3, 2025
Malaysian engineering and infrastructure giant Gamuda has expanded its presence in the Australian renewables sector by partnering with Tasmanian landowners to build a 1.2GW portfolio, which includes solar PV.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK