Pivot Energy Secures $200 Million Tax Credit Purchase Commitment for 144 MWdc U.S. Community Solar Portfolio
FOR IMMEDIATE RELEASE
40-project portfolio, one of largest community solar portfolios in U.S., to deliver renewable energy access and local economic benefits across 8 states.
DENVER, Colorado; May 7, 2025 – Pivot Energy, a leading national renewable energy provider and independent power producer (IPP), has secured a $200 million tax credit purchase commitment to support its 40-project (144 MWdc) community solar portfolio across eight states. This follows recent financing commitments of more than $450 million from HASI, First Citizens Bank, and ATLAS SP Partners.
The tax credit commitment was facilitated through Acadia’s Climate and Communities Investment Coalition (CCIC). The Coalition is focused on delivering tangible community benefits from corporate energy investments. Upon completion, the 40 projects are expected to fund millions of dollars in incremental community benefit investments, which will be administered by Sustain Our Future Foundation (SOFF).
The Pivot portfolio will bring affordable electricity to thousands of residential and commercial subscribers in communities across Colorado, Delaware, Hawaii, Illinois, Maryland, Minnesota, New York, and Virginia. Beyond lowering energy costs, the portfolio will create new jobs, generate tax revenues, and fund high-impact community programs. The community programs aim to develop infrastructure for community resilience, expand workforce training programs, enhance educational opportunities, increase energy bill savings of low-income subscribers, and provide support to community-based organizations.
“This tax credit purchase agreement reinforces that the energy transition can be both scalable and community-focused,” said Tom Hunt, CEO of Pivot Energy. “We are thrilled to grow our partnership with Acadia and bring more solar energy to U.S. communities.”
Following Acadia’s coordination of the transaction, Tim Short, Managing Partner of Acadia, said, “We are proud to have supported Pivot Energy in advancing one of the largest community solar portfolios in the United States.” Brian O’Callaghan, Vice President at Acadia continued, “By facilitating this commitment through the CCIC, we’re helping direct corporate capital to projects that deliver tangible benefits to local communities—like job creation, economic growth, and access to renewable energy.”
“This commitment demonstrates how renewable energy investments can be structured to drive tangible benefits for local communities,” said Yinka Bode-George, CEO of SOFF. “By administering these community benefit funds, Sustain Our Future Foundation will help advance workforce development and education, and support community-serving organizations.”
The first community solar projects in this portfolio are expected to begin commercial operations in Q3 2025.
About Sustain Our Future Foundation
Sustain Our Future Foundation (SOFF) is a national not-for-profit organization that collaborates with corporate sustainability teams to de-risk and deepen the impact of sustainable infrastructure projects by ensuring that local communities' priorities are part of the planning, siting, and development phases of these projects. Our goal is to raise the standard of sustainable development to promote economic development, community partnership, local self-determination, and environmental health for all communities.
About Pivot Energy
Pivot Energy is a renewable energy provider and independent power producer that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot leverages its renewable expertise to provide a range of unique offerings that accelerate the clean energy transition by helping companies and communities attain impactful decarbonization.
Learn more: https://www.pivotenergy.net/news-releases/pivot-energy-secures-200-million-tax-credit-purchase-commitment-for-144mw-community-solar-portfolio
