Novel Energy Solutions Partners with Basis Climate to Complete the Sale of ITCs for Community Solar Projects in Minnesota and Maine

These projects provide local residents and businesses with access to solar energy savings through community solar subscriptions, maintaining lower electricity rates throughout their utility districts, and helping both states achieve their renewable energy targets.

"Community solar represents a critical pathway to democratizing access to clean energy, especially for those who cannot install rooftop solar," said Cliff Kaehler of Novel Energy Solutions. "By partnering with Basis Climate to monetize our investment tax credits, we're able to reinvest capital into developing additional projects that bring tangible benefits to communities across the Midwest and Northeast. We look forward to continuing to work with the Basis team on our 2025 portfolio."

Novel Energy Solutions has a robust pipeline of community solar projects under development, with a pipeline over 2GW of community solar across multiple states, creating local jobs and delivering tens of millions of dollars in energy savings to subscribers.

“It’s been great working with the Novel team on their tax credit transfers. They are a developer who has expertly designed a programmatic framework for repeat transactions, enabling new buyers to leverage this structure and efficiently transact” said Basis CEO Erik Underwood. “Our buyer was able to go from term sheet signing to execution in less than a month, supporting Novel’s priority of monetizing the credits to support their accelerated growth.”

About Basis Climate

Basis Climate has completed hundreds of millions of dollars of tax credit transfers, ranging from $355k to $100M and running the gamut of clean energy technologies and credit types. It is focused on ensuring a transparent, simplified and clear process for both buyers and sellers, and providing multi-layered capital solutions including preferred equity, tax credit bridge lending, and term debt through its close network of capital partnerships..

About Novel Energy Solutions

Novel Energy Solutions is a community solar developer focused on bringing the benefits of clean energy to communities across the United States. The company specializes in developing, financing, and operating community solar projects that provide energy savings to local subscribers while supporting the transition to renewable energy. With a commitment to