Amalgamated Financial Corp. Announces Completion Of 3 Oregon Community Solar Program Projects; 3 Additional Projects Are Expected To Be Completed And Commence Operations By The End Of Q3 2024
Portfolio Pulse from Benzinga Newsdesk
Amalgamated Financial Corp. (NASDAQ:AMAL) has completed three community solar projects in Oregon and expects to complete three more by Q3 2024. The projects, financed by a $25 million construction term facility to SolRiver Capital, aim to commence commercial operations soon. This initiative is part of Amalgamated's commitment to sustainable lending and the Oregon Community Solar Program, which offers energy at fixed prices to subscribers, including low to moderate income households.

April 29, 2024 | 8:34 pm
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Amalgamated Financial Corp. has successfully completed three solar projects in Oregon, with plans for three more by Q3 2024, showcasing its commitment to sustainable lending and support for renewable energy initiatives.
The completion of these projects and the announcement of future projects highlight Amalgamated's active role in renewable energy financing, which could positively influence investor perception and potentially the stock price due to the growing market interest in sustainable and socially responsible investments. The innovative financing solution provided to SolRiver Capital not only demonstrates Amalgamated's capability in structuring complex financial products but also its commitment to sustainability, likely appealing to a broader base of environmentally conscious investors.
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