SunRocket Capital, formerly Sol-REIT, LLC, a structured finance partner to solar developers, is pleased to announce the completion of three separate construction-to-permanent funding transactions with Donato Solar, totaling $14.5 million in financing during the first quarter of 2024. The three projects financed are located in central Illinois and have been designed to provide green energy for commercial data-centers operated by GAIL Technology, Inc.
The projects total 9.24MW DC and allow the data-centers to operate efficiently. The solar fields overproduce during the day, benefiting the utility and the grid. In addition to the financing from SunRocket Capital, each project will receive Solar Renewable Energy Credits (SREC’s) which are awarded through the Illinois Power Authority’s (IPA) Adjustable Block Program also known as Illinois Shines and are based on 15 years of future power generation. The SRECs serve to improve overall project economics.
Anthony Donato, CEO of Donato Solar LLC & GAIL Technology, Inc., remarked on the structured financing partnership with SunRocket Capital stating, “The team at SunRocket Capital has proven to be an exceptional financial partner. They operate with speed and efficiency and are very knowledgeable regarding solar development, a unique and important component of helping expedite financing.”
Derek Gabriel, Sr., Chief Operating Officer and Head of Originations at SunRocket Capital, expressed enthusiasm about the previously announced partnership, stating, “Our financing, coupled with experienced solar developers and EPCs quite simply helps solar energy projects deploy at scale because they can get constructed and operating with a single financial transaction. We’re excited to work with Anthony and his team to deploy a large portfolio of distributed generation.”
SunRocket Capital is set to fund Donato Solar’s pipeline of 100MW, with 30MW slated for financing in 2024, amounting to approximately $100 million in construction-to-permanent loan financing. Each of the projects will be constructed in the State of Illinois. To date, 30MW are currently operational, with an additional 40MW to be completed in 2024.
About SunRocket Capital:
SunRocket Capital, formerly Sol-REIT, LLC, is a leading private lender specializing in funding solar projects. Led by an experienced solar development and structured finance team with a rich history of successful collaborations, SunRocket Capital is dedicated to advancing sustainable initiatives through structured financial solutions. The company’s construction to permanent loan program (SolarC2PTM) is designed to support solar projects in the C&I sector, making them a preferred capital source for developers and EPCs. For more information please visit: www.sunrocketcapital.com.
About Donato Solar and GAIL Technology:
Donato Solar is a prominent developer of solar fields in the State of Illinois. GAIL Technology is a leader in data-center development and operations in the State of Illinois. Led by CEO Anthony Donato, the companies have a proven track record of developing solar projects and unitizing green energy.
For media inquiries, please contact:
Adam Moskowitz
Chief Marketing and Communications Officer
SunRocket Capital
adam@sunrocketcapital.com
