Y Energy Secures 132.6kW Construction Contract at Alamo Country Club
Solar Project in Texas is Part of $3.5 Million Financing Round
Y Energy has entered into a construction contract with Self Reliant Solar to build a 132.6kW solar installation at Alamo Country Club in Alamo, TX. This solar project expands Y Energy's footprint into yet another state. Including Texas, we now own, operate and/or manage solar assets in 8 states across the country, with more states on the horizon.
The Alamo solar project is part of a $3.5 million financing round into solar assets that will be completed before year-end. The CARES Act, passed earlier this year, provides a small window of opportunity allowing tax investors to carry back net operating losses for up to 5 years. This provision has ignited extra investment demand that Y Energy is determined to fill and complete.
Investors are starting to understand the opportunity currently available to them. Now is the time to capitalize on it. As the year draws closer to an end, it will become increasingly difficult to take advantage of the temporary carryback provision, given the time it takes to take solar projects from planning to completion.
Indeed, this current investment is just one of several that Y Energy is working to fill. Over the past 2 months, interest in the solar space has ticked up consistently. We now have a total of $23.8 million in tentative and locked-in investment volume - a tall order for 2020, but one that we are determined to complete.