October 3, 2019: Californian solar and energy service provider CalCom Energy has launched a $100 million Agriculture Energy Infrastructure Fund to build storage projects to benefit farming communities in the state, it said on September 25.
Developed in partnership with Symbiont Energy and the Live Oak Bank, the fund will enable farmers to build on-site solar and storage systems.
It specifically aims at agriculture companies and farmers hit by the recent wildfires in California, and who also suffer from a lack of grid resiliency and higher energy and water bills.
“Farmers have been under extreme pressure in California, with everything from utility bankruptcies to tariffs to natural and manmade disasters,” said Dylan Dupre, president and CEO of CalCom Energy.
“CalCom wholeheartedly supports our customers in the Central Valley, and with this fund we can offer very favourable financing options for customers who did not have access to clean energy in the past.”
David Williams, chief commercial officer for CalCom Energy said the fund would also allow it to expand its project development work and for the first time, own the projects it was developing.
“Our speciality at CalCom now spans from origination and development through financing, execution and asset management of distributed solar and storage projects,” he said.
CalCom was founded in 2012 to build solar and energy projects to offset rising electricity costs.