Telos Clean Energy has closed a joint venture with Goldman Sachs’ alternative energy Investing group to develop, construct, own and operate distributed solar power projects that will sell power to commercial, industrial and municipal customers.
Under the new agreement, Goldman Sachs will be able to invest up to $275 million to finance the activities of the joint venture and own assets, combining financing provided by several parties via tax equity, debt, and sponsor investments into a single capital source. TELOS Clean Energy will provide the development and construction expertise necessary to originate, execute and asset manage the portfolio.
The joint venture brings on former partners of Greenskies Renewable Energy, including TELOS' CEO Andrew Chester and head of business development Michael Daly.
