Enterprise Community Development has developed a portfolio of solar photovoltaic installations totaling 3.3 megawatts (MW) at 16 affordable properties across Washington, DC.
Klein Hornig assisted Enterprise Community Development in all aspects of these two transactions, including structuring the solar owner entities, drafting energy service agreements and solar easements for each of the properties, negotiating debt and equity documents, and navigating the maze of lender, investor, and agency consents needed to install solar panels on these affordable properties.
The first project in Enterprise’s portfolio included panels totaling 1.1 MW at 12 properties and allowed Enterprise to generate 15% of its common area electricity onsite at a 25% discount to utility rates. The savings have been reinvested into the communities in the form of enhanced resident services. A second 2.2 MW project at four properties used the District’s community solar program to provide 25% energy discounts to participating low-income households living at the properties.
Klein Hornig is currently working alongside Enterprise Community Development to install an additional solar across its 115+ portfolio of properties in Washington DC, Maryland, Virginia, and Pennsylvania.
