SunVest Solar has successfully closed a $67 million capital raise to support the expansion of its community solar portfolio and accelerate new project development across key U.S. markets.
The financing includes a $47 million investment tax credit (ITC) transfer to a global insurance brokerage firm, along with a $20 million equipment loan secured from Live Oak Bank. The ITCs are linked to a 26 MW portfolio of community solar projects developed, constructed, and owned by SunVest, which were placed into service in 2025.
According to CEO Bram Walters, the transaction highlights the company’s ability to execute complex financing structures while strengthening its position in the distributed generation solar market. He added that SunVest remains focused on delivering its project pipeline as federal deadlines approach.
The proceeds from the capital raise will be deployed across multiple strategic priorities. A portion of the funding will support the initiation of construction on nearly 500 MW of solar projects, with the equipment loan enabling the release and redeployment of previously committed working capital. These projects are expected to be commissioned over the coming years and will qualify for federal ITC benefits.
Additionally, the $47 million ITC transfer has been utilised to retire bridge financing associated with a completed community solar portfolio in Illinois. The portfolio, which was placed in service in 2025, achieved substantial completion in 2026 and is now backed by permanent senior debt through SunVest’s syndicated warehouse facility.
The financing will also facilitate the commencement of 75 MW of new solar and solar-plus-storage projects across Illinois and Minnesota, including 30 MW of battery storage capacity.
L Lindblom, Vice President of Structured Finance at SunVest Solar, noted that the equipment financing structure provides a capital-efficient approach to mitigating project risks ahead of construction financing, while strengthening partnerships with key financial stakeholders.
With the latest funding in place, SunVest Solar expects to surpass 280 MW of operational capacity by the end of 2026. Leveraging its integrated development platform and robust project pipeline, the company aims to achieve 1 GW of assets under management by 2030.
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