(ST. LOUIS, Mo.) – May 10, 2021 – Gardner Capital, a private equity firm specializing in multifamily housing and solar energy development and investment, announced today that it has closed the $10.3M refinance of one of Gardner Capital’s Solar Power Company subsidiaries with National Cooperative Bank, a Washington, DC-based bank.
“We are pleased to announce the closing of this new finance facility with NCB that will provide more flexible and long-term financing for a portion of our operating solar portfolio in Missouri,” said Michael Gardner, CEO of Gardner Capital.
“As an Independent Power Producer (IPP) operating across multiple markets, finding the right long term finance partners is imperative to our ability to continue to bring additional utility scale solar power capacity to market – this transaction not only reflects our reputation and commitment to the solar industry but demonstrates the value we bring our investors by seeking ways to structure deals more efficiently,” added Mike Koehler, Chief of Staff & VP, Solar Business Development and Power Production at Gardner Capital. “With interest rates near all-time lows and recent extensions of associated tax credits, the solar industry is poised for trillions of dollars of investments over the next four years on clean energy infrastructure and we look forward to expanding our investment in clean energy in communities across the state of Missouri.”
National Cooperative Bank is one of many trusted partners Gardner Capital has worked with on the Community Solar Project. “As a mission-focused financial institution, we have been active in renewable energy lending for 15 years,” stated Matt Wright, NCB senior vice president. “We are proud to work with Gardner Capital in providing competitive financing for these solar transactions.”
Gardner Capital currently owns more than 50MW of solar generation capacity in its Missouri portfolio alone and continues to expand its production of renewable energy capacity in the state and nationwide with multiple utility scale and community solar projects in development.
About Gardner Capital
Gardner Capital is a private equity firm with multiple operating businesses focused on affordable housing and renewable energy development, tax credit syndication, and real estate-related investments. The firm has offices in St. Louis, Dallas, Houston and Orlando. Since 1992, Gardner Capital has placed more than $3 billion of equity in affordable housing and related investments. The firm’s solar platform has developed and acquired more than 250MW nationwide and remains committed to renewable energy and sustainability across its investment platform and operating companies. Gardner Capital seeks to invest in communities, foster upward mobility, and improve the wellbeing of families by developing, investing and raising capital for affordable housing and clean energy-related businesses.
For more information, visit www.gardnercapital.com.
About National Cooperative Bank
National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook and Instagram, or on Twitter @natlcoopbank.
Gardner Capital Contact:
Chief of Staff
Gardner Capital Corporate
Amy Power / [email protected]
Stacey Gaswirth / [email protected]