Athens, OH – April 23, 2019 – New Resource Solutions (NRS), an emerging platform developed to efficiently connect clean energy projects with clean energy investors, today announced Federal Hocking Local Schools will go green with a 700-kilowatt solar energy array that will offset over 70 percent of the power for its middle and high schools.
“This is not only a more cost-effective way to power our schools, but it also provides an opportunity for our students to learn about new technologies and innovations that will be part of the economy in their future,” said George H. Wood, superintendent of Federal-Hocking School District.
The school district will host the installation that was made available by an investment through Foundation Renewable Energy Company, a manager of renewable energy investments for institutional partners to invest as an owner operator. The array will be designed and built by Athens-based Third Sun Solar. It will employ 8-10 installers for the project, including an alum of Federal Hocking High School.
“While Third Sun Solar has installed solar on more than 70 schools, this project is really exciting as it is right here in our community, and many of the folks working here are graduates from this school district,” said Geoff Greenfield, founder and CEO of Third Sun Solar. “While solar’s financial benefits to the school are very attractive, we believe that the benefits to our local economy of solar jobs are equally important.”
Federal Hocking’s solar array will offset over 825,000 kilowatt-hours of electricity each year, which is equivalent to 583 metric tons — or the yearly energy used by 70 houses — of carbon emissions.
The project is a result of an innovative approach to financing renewable energy projects offered by New Resource Solutions (NRS). It plays “matchmaker” to entities that want to add renewable energy as a power source with investors who see the value in smaller-scale, community-centered projects. NRS then works with both parties to see the project through development to installation.
“We are excited to bring this solar project to Federal Hocking Schools, and it proves that investors are eager to make a meaningful difference with solar development projects that are often overlooked by large funds,” said Marc Palmer, managing director of NRS. “Whether it’s a large solar development near a transition community or a small-scale installation for a school district, NRS brings together the right team to make these projects happen.”
NRS was formed by veteran clean energy professionals as a solution to industry frustrations with the typical processes of clean energy project financing. In response, NRS provides an improved process — reducing project costs and timelines — for deploying capital directly into the clean energy project market. Its platform leverages cutting-edge, proprietary software which allows investors to safely, easily, and directly acquire clean energy projects. These powerful and transparent tools enable more projects to attract capital and move forward faster.
About Third Sun Solar
Third Sun Solar specializes in the design, construction and financing of high-performance solar energy systems for homeowners, business, agriculture, government and nonprofit organization that demands quality and reliability to maximize total financial return and carbon reduction.
About New Resource Solutions
The NRS platform supports qualified investors – such as infrastructure investment funds, endowments, and foundations – in acquiring clean energy generation projects more confidently and efficiently. NRS works nationally with a carefully vetted network of established local partners who build community clean energy projects – serving schools, municipalities, nonprofits and industry. About Foundation Renewable Energy Foundation Renewable Energy Company is a subsidiary of Dallas, Texas-based Foundation Energy Company, LLC, which was founded in 2004. Foundation Energy Company also owns Foundation Energy Management, LLC, which operates oil and gas properties in 12 states and has assets under management of over $500 million.
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