News

Reznick Group, working in conjunction with Reznick Capital Markets (RCM), helped KDC Solar LLC, a developer of large-scale commercial solar projects,  close its most recent financing for a portfolio of projects in New Jersey. The financing, provided by a subsidiary of U.S. Bancorp provides long-term renewable energy tax equity financing for multiple distributed generation, net-metered solar installations. The first installation in the portfolio, a 3.25 MW rooftop mounted solar system at a warehouse in Cranbury, New Jersey, was completed on November 14, 2011.  The second installation, a 3.5 MW rooftop mounted solar system at a warehouse in South Brunswick, New Jersey, is expected to be completed in late December 2011 or early 2012.

Serving as advisors to KDC Solar, Reznick Group and RCM conducted the financial modeling for all parties to the transaction, provided tax and structuring advice, advised on Section 1603 eligibility, and provided appraisals for each of the solar systems. The Reznick Group/RCM team came from multiple offices and included members of the firm’s national renewable energy practice, Valuation and Transaction Advisory Group (VTAG), and Reznick Capital Markets.

Read the press release.