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Prospect14 Announces Sale of One Gigawatt Solar Project Portfolio in PJM

November 17, 2021 GMT
Glidepath Ventures becomes Prospect14 (PRNewsfoto/Prospect14)
Glidepath Ventures becomes Prospect14 (PRNewsfoto/Prospect14)
Glidepath Ventures becomes Prospect14 (PRNewsfoto/Prospect14)

ARDMORE, Pa., Nov. 17, 2021 /PRNewswire/ -- Prospect14, a leading clean energy development and investment firm, is pleased to announce the sale of approximately 1 GWdc of solar and solar + storage projects located in Virginia and Pennsylvania to a large institutional investor.

“Prospect14 is pleased to be able to deliver value to an institutional investment platform through our scaled origination approach, providing qualified and ready-to-develop assets at scale,” said Geoffrey S. Underwood, a Partner of Prospect14.

“As the US solar market continues to mature, we are encouraged to see institutional investors step into mid-stage solar development as a confirmation of the value creation opportunity available through the development process. This is a milestone in the mainstreaming of solar as a desired asset class,” said Carl J. Jackson, a Partner of Prospect14.

Jefferies LLC served as financial advisor to Prospect14 on the transaction. GreeneHurlocker, PLC served as legal advisor to Prospect14.

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About Prospect14
Founded in 2017 and headquartered in Ardmore, Pennsylvania, Prospect14 focuses on the scaled origination and development of renewable energy and energy storage projects in multiple markets in the United States. Since its inception, Prospect14 has originated approximately 5 GWdc of solar and solar + storage projects. For more information, please visit www.prospect14.com.

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SOURCE Prospect14