OE SOLAR AND SUNVEST ANNOUNCE JOINT VENTURE for Community Solar Projects

Collaborative effort will benefit low-income communities and organizations in the state

ALBUQUERQUE, JUNE 23, 2023 – New Mexico’s leading provider of solar energy solutions for businesses, governments and non-profits, OE Solar, has launched a joint venture with national developer SunVest, to offer community solar options across the state of New Mexico.

This joint venture combines OE Solar's extensive expertise in designing and installing top-notch solar systems with SunVest's market knowledge and innovative development strategies. The venture, SVOE LLC, was recently awarded contracts for over 31 Megawatts of Community Solar capacity from all three investor-owned utilities in New Mexico: Xcel, PNM, and El Paso Electric.

The solar farms established through this collaboration will not only reduce electricity costs for customers but also create high-paying jobs in communities across the state. By embracing these community solar projects, businesses and homeowners can reap the benefits of solar energy without any upfront expenses, enjoying long-term savings and contributing to environmental stewardship.

Adam Harper, CEO of OE Solar, expressed enthusiasm about the collaboration, stating, "We are excited to partner with SunVest to offer more financing options for our customers. We passionately believe that solar energy is not only beneficial for the environment but also advantageous for low-income residents, non-profit organizations, family-owned businesses, and local municipalities. By combining our local solar expertise with SunVest's financing and customer management solutions, we can assist more residents and organizations in New Mexico in transitioning to solar energy and saving money.”

SunVest CEO Bram Walters also shared his excitement about the joint venture, saying, “We are thrilled to join forces with OE Solar, a trusted and reputable solar company in New Mexico. This innovative collaboration continues SunVest’s market expansion strategy and demonstrates our efforts to build an industry-leading pipeline of community solar projects. We are committed to growing our solar capacity in this important market over the coming years.

The partnership between OE Solar and SunVest comes at a time when New Mexico is witnessing a remarkable increase in solar adoption, thanks to strong solar resource and favorable policies at the state and federal level.

The projects awarded community solar award will be constructed over the next 12 months. Visit oesolarnm.com for more information on how to participate in the community solar program.