North Minneapolis resiliency hub
Developer:
Renewable Energy Partners
Purpose:
MnCIFA loan for $1.2 million with 5-year term. Financing for 1.463 kW solar and energy storage components on four Minneapolis Public School buildings to generate power. If the local electric grid has a power outage, the hub of buildings will give residents places with electricity.
Solar
Community-owned clean energy
As our changing climate generates more natural disasters, communities with concentrations of low-income households tend to be hardest hit. North Minneapolis will be better prepared with community-owned solar energy and energy storage:
- Solar power will deliver affordable, clean energy for the four school buildings, lowering energy costs.
- If the local area loses electric power in a disaster, the solar-plus-storage hub will have power for residents as a place to go to protect from hot or cold weather, to charge their medical equipment and electronic devices, and offer other resources.
- Bridge loan from MnCIFA for $1.2 million will be repaid via federal Investment Tax Credits and other Inflation Reduction Act funds.
- The project's entire solar and energy storage is estimated to cost $10.1 million.
- Project partners include: Xcel Energy (DOE grant), tax equity investor, Commerce Solar for Schools, City of Minneapolis and Minneapolis Public Schools
About Renewable Energy Partners
- Founded in 2013
- One of Minnesota's largest Black-owned solar developers
- Focuses on clean energy projects with impactful community benefits, such as community solar gardens
- Sponsors energy skills training program at its North Minneapolis facility
- Certified Minority Business Enterprise and member of the North Central Supplier Diversity Council
- RES has developed solar projects for Minneapolis Public Schools, Target Corporation, Science Museum of Minnesota, several affordable housing developers and others