Adam Capital to provide USD-1m loan to Sustainable Environmental
Oct 26, 2011 - Adam Capital Clean Energy Asset Finance LLC said earlier this week it would lend USD 1 million (EUR 718,000) to Sustainable Environmental Enterprises (SEE) to back solar power installations at low-income households in New Orleans in the US.
SEE will use the amount to fund more than 85 rooftop solar projects in the city.
Following hurricane Katrina, the state of Louisiana realised that solar power can help make local communities less vulnerable to natural disasters, Adam Capital said. The state has introduced premium solar incentives to help rebuild communities like New Orleans, but financing remains a challenge, it added.