Tax Equity Financing for Renewable Energy Projects in North Carolina
January 26, 2016, Clearwater, FL —Churchill Stateside Group, LLC (CSG), a real estate and energy financial services company, is pleased to announce the closing of its tax credit equity fund for the development of 28 megawatts of solar energy projects in North Carolina. Churchill Stateside NC Tax Credit Fund IV, LLC, the fourth solar energy fund sponsored by CSG, financed five ground mounted, fixed tilt solar energy projects commissioned in December 2015.
Since 2012, CSG’s tax credit equity funds and debt products have successfully financed over $350 million of solar energy installations while delivering quality projects and financial results to investors as forecasted.
“Clearly, there is growing and widespread demand for investments in clean energy projects, and we are pleased to offer to investors our team’s unique experience and capabilities in tax-incentivized investments in clean energy assets.” said Devin Sanderson, Chief Operating Officer and Director of Renewable Energy for CSG. “The closing of this fund further solidifies CSG’s reputation as a leading provider of financing solutions to our development partners and investors alike.”
Joseph Switzer, Senior Vice President of Churchill Stateside Securities, LLC, the fully licensed broker-dealer for CSG, said “With the extension of the investment tax credit in solar and wind, we are finding significant interest from a diverse spectrum of global institutional investors, illustrating the increasing appeal of renewable energy assets and the diversification benefits they bring to investment portfolios. Our clients can now gain an understanding of the preferred accounting techniques for this asset class to optimize the income statement impact for investors.”
About Churchill Stateside Group
Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. CSG has long-standing and successful investment relationships with numerous corporate investors, pension funds, and insurance companies. The company’s investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.
For more information, please visit www.CSGfirst.com.