For full article see Open Energy Group, June 17, 2014
NEW YORK, NY – Open Energy Group has raised and closed a $517,500 senior loan nancing for an operating 1MW commercial solar farm in Thomaston, GA. Twenty-two investors took advantage of the superior risk-adjusted return, investing on average more than $23,500, to enhance their investment portfolios. The Thomaston solar project is the rst to bene t from Open Energy Group’s pioneering methodology.
“I’m impressed by the model developed by Open Energy and I’m very excited to participate in the rst senior loan nancing,” said Grant Biggar, active Fin-Tech investor and prior President of Creditex, a derivatives brokerage rm. “The high return o ered, relative to the risk assumed, is a welcome addition to xed income investors’ portfolios in the current low yield environment. I’m sure future o erings from Open Energy will be just as successful.”
“I’m delighted to see Open Energy fund one of Origis’ projects,” said Managing Partner of Origis Energy USA Guy Vanderhaegen. “Open Energy provided an important service in providing us loan capital in an underserved commercial loan market. The Open Energy project loan enabled us to debt nance a well constructed, operational solar project that provides steady, predictable returns and provided us with the capital to assist in expanding our existing solar project base. We intend to build out 300 MW of solar projects in the US over the next three years, we look forward to partnering with Open Energy to nance more of our projects in the future.”