WASHINGTON, DC - Sol Systems, a national solar energy finance and development firm, today announced a groundbreaking initiative with Microsoft, Corp. that creates the first community investment fund and the company’s single largest renewable energy portfolio energy purchase agreement. Sol Systems and Microsoft designed the portfolio to maximize its positive environmental, community and societal impact. The strategic initiative will help Microsoft meet its goal of shifting to 100 percent renewable energy by 2025.
Sol Systems will finance, develop and operate a portfolio of over 500 megawatts (MW) of solar projects in the U.S. and will sell energy from those projects to Microsoft. In parallel, working with local leaders in nearby communities and those disproportionately impacted by climate change, Sol Systems and Microsoft will invest at least $50 million for community-led grants and investments that support educational programs, job and career training, habitat restoration, and programs that support access to clean energy and energy efficiency
“This marks a groundbreaking commitment by Microsoft, Sol Systems, and our employees to invest in our communities and drive economic recovery,” said Sol Systems CEO and co-founder, Yuri Horwitz. “This is a unique approach to couple clean energy with community development and investment,” he added.
“We recognize that climate and environmental issues don’t impact every community the same way and we need to address environmental equity as a broader issue,” said Lucas Joppa, Chief Environmental Officer, Microsoft. “Our work with Sol Systems is a first-of-its-kind initiative tying the purchasing of renewable energy to environmental justice and equity in under-resourced communities. What makes this partnership unique is that we will be working with local leaders, prioritizing minority and women-owned businesses and making community-lead grants and investments.”
Delivery of the portfolio will be phased in over the next several years.
Learn more about Microsoft’s carbon goals at Microsoft on the Issues.
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ABOUT SOL SYSTEMS
Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure and environmental commodity businesses. Sol is operating and building over 1GW of solar projects valued at more than $1 billion for Fortune 100 companies, municipalities, counties, utilities, universities and schools. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with institutional clients, corporate partners, and foundations to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com/.