Posted 11.08.2011

Adam Capital funding to support Tioga Energy solar power purchase agreements

When New Resource client Tioga Energy needed additional financing to support municipal solar projects in the Northeast, Vice President Matt Scullin suggested that they contact Adam Capital Clean Energy Asset Finance, a private investment fund dedicated to supporting the clean energy industry. The New Resource client network paid off for both parties.

On Nov. 2, Adam Capital announced it has closed a project financing transaction with Tioga Energy, a leading provider of renewable energy services to commercial, government and nonprofit institutions. The funding will support construction for approximately 30 of Tioga Energy’s municipal solar projects being financed through its SurePath™ Solar power purchase agreements. The project sites include schools, libraries and other government buildings in the Northeast.

“Our core competency lies in working with commercial-scale project developers to provide the capital required to facilitate continued growth in an exceedingly fruitful sector of the U.S. solar market,” said Adam Boucher, CEO of Adam Capital. “Tioga Energy’s years of expertise in this arena make the company a valued addition to our growing roster.”

“Tioga tapped into Adam Capital’s solar financing expertise to further broaden our base of resources,” said Paul Detering, CEO of Tioga Energy. “Working with Adam Capital strengthens our ability to ensure seamless transactions for our customers across the country.”