Sea Oak Acquires Solar Portfolio from MHG Solar
NEWS PROVIDED BY
Sea Oak Capital, LLC
September 8, 2020, 2:00PM ET
VERO BEACH, FL., September 8, 2020 – Sea Oak Capital, LLC (“Sea Oak”) has completed the acquisition of a 2 MW community solar portfolio from MHG Solar (“MHG”), a developer and installer of turnkey solar energy projects. Located in Vermont, the community solar projects participate in the Vermont Group Net Metering program.
“We are pleased to announce our expansion into the Vermont market with the addition of another 2 MWs of community solar projects,” said Dan Poydenis, Chief Executive Officer of Sea Oak. “We would like to congratulate the MHG team for their professionalism and hard work to make this acquisition happen. We continue to seek additional solar and storage project acquisitions to meet our aggressive 2020 growth goals.”
Sea Oak is a tax-efficient investment fund and asset manager that is rapidly growing its solar and battery storage project portfolios across the United States. Sea Oak self-monetizes the tax credits and depreciation benefits a project generates resulting in a best in class speed of close and ease of transacting. In addition to its tax efficiency, by self-performing asset management and other key functions of its investments, Sea Oak’s low-cost structure allows it to provide superior value to its developer partners in the acquisition of operating and substantially developed solar and battery storage projects. Click below to submit a project opportunity for consideration by a Sea Oak analyst.
“MHG is excited to partner with Sea Oak on these unique solar projects”, said Pete Giese of MHG Solar. “We focus our development on energy projects that not only provide clean, low cost energy but we also seek to create projects that revitalize the land and communities in which they are located. In Sea Oak we have found a partner that understands all of the various values that these projects can create.”
MHG is a renewable energy developer based in Manchester Center, Vermont that focuses on developing distributed generation projects, in particular, projects with a land reuse and revitalization component. With more than 10MWs of active projects in Vermont, MHG is committed to advancing its thoughtfully located, high quality renewable energy projects.