Norwalk industrial facility installed 135kw solar PV rooftop system, saving them $41,150 annually.
The property was originally built in 1972 and has been repurposed into a multi-tenant 122,000 sq. ft. warehouse building by Spinnaker Real Estate Partners (managing partner and a principle investor). C-PACE financing enabled Spinnaker to harness the power of solar to reduce operating costs, exceed industry standards in sustainability, and give new life and purpose to older buildings. This program aligns with Spinnaker’s commitment to build responsibly, while simultaneously gaining a competitive advantage in the area. Across a portfolio of 3 solar projects financed with C-PACE, Spinnaker will have annual energy savings of $203,700, amounting to $4,074,005 in total energy savings over financing term.
“It’s a capital investment, so the building becomes more valuable over time. It’s right for our tenants, our investors, our buildings, and the environment.”
– Clay Fowler, Chairman and CEO, Spinnaker Real Estate Partners
Location
345 Ely Avenue • Norwalk, CT
Energy Update
135 kW roof mounted solar photovoltaic system and roof upgrades
C-PACE Financing
$351,340 • Over 20 years
Projected Energy Savings
$823,008 • Over the life of the upgrades