Latest news with #SolarLandscape
Yahoo
23-05-2025
- Business
- Yahoo
Cambria commissioners take steps toward solar project at prison
EBENSBURG, Pa. – The Cambria County commissioners took additional steps Thursday to begin a solar project at the Cambria County Prison. The board approved two letters of intent – one with Virginia company Madison Energy Infrastructure for installation of net-metered solar arrays, and another with New Jersey company Solar Landscape for a land-lease agreement of solar arrays. 'This is one of the first things I started when I got in office, was to try to reduce the cost, the footprint of the prison,' Commissioner Keith Rager said. 'This is just the first step.' The jail on Manor Drive operates on a roughly $15 million budget and was also identified for a solar project because of the hundreds of acres of nearly flat land on the property. Annually, the prison has an energy bill of roughly $300,000 and consumes about 3 million kilowatt-hours of energy, for which the county is paying a rate of around 11 cents per kWh. President Commissioner Scott Hunt said once the project is complete, the county is estimated to save around $150,000 per year. The letter of intent sent to Madison Energy calls for a rate of 5.6 cents per kWh for both the prison and several surrounding structures. Hunt said that may include the courthouse and parking lot, former domestic relations building, solid waste building and motor pool building. The letter of intent for Solar Landscape was defined as solar arrays on 35 acres at a rate of $9,960 per megawatt collected at the site. Cambria County began exploring solar energy around a year ago, and Commissioner Thomas Chernisky said the group pursued the project the right way in his opinion, with a request for proposal. 'We definitely took our time to make sure we got it right,' Hunt said. Alex Ashcom, county chief clerk, said the purpose of Thursday's actions was to identify the best proposals. Solar Landscape and Madison Energy were two RFP respondents. Now, the county will begin contract negotiations with those agreements expected to be awarded in June. Ashcom said the timeline for the project to start is flexible. In other business, the commissioners awarded $626,000 to East Taylor Township from the Act 13 Restricted Highway Use funds for the Hunt Road bridge project. The structure that crosses Hinkston Run near the reservoir dates to 1938 and was shut down unexpectedly in summer 2024 because it was determined to be unsafe. The commissioners lauded the effort to help the township repair the bridge citing the negative impact the closure has had on emergency services. Jacob Zerby, Cambria County Planning Commission transportation planner, said the response time for emergency services has 'slowed drastically' because of this closure. Hunt Road is one of the few in that valley that connects Hinckston Run and Benshoff Hill roads. Waterfall and Kepple roads being the others, but the bridge on Waterfall has been closed for decades and to use Kepple is a seven mile detour. Ricky Price Jr., East Taylor supervisors board chairman, said the assistance from the commissioners was a great help. 'Without that, there's no way we would have been able to afford to do something like that,' he said. The more than $600,000 award will cover the complete cost of the Hunt Road bridge replacement. Price said the supervisors will work with the planning commission on how to move forward and the bridge replacement, possibly this year.
Yahoo
20-05-2025
- Business
- Yahoo
Morgan Stanley Upgrades Price Target for Prudential Financial, Inc. (PRU) on Cat Bond Surge and Clean Energy Deal
Morgan Stanley analyst Nigel Dally upgraded the price target for Prudential Financial, Inc. (NYSE:PRU) from $108 to $117 on May 19, 2025. A financial advisor is sitting with a customer in a living room discussing their financial future. On May 15, 2025, Hedge Fund Fermat Capital Management forecasted in Bloomberg Law a 20% growth in the market for catastrophe bonds before the end of 2025. Subsequently, the outlook for financial companies dealing with insurance packages went up. One of the chief beneficiaries was Prudential Financial, Inc. (NYSE:PRU). On the same day, PGIM Private Capital, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE:PRU), entered into a $175 million long-term partnership with Solar Landscape, one of the U.S.'s leading commercial rooftop developers. The partnership aims to financially support the increasing portfolio of Solar Landscape's projects, which feed electricity directly into the distributed grid. The company primarily intends to cover Maryland and Illinois. Following these announcements, the company's insider transactions also went up. Notably, the company's directors including Scovanner Douglas A, Poon Christine A, Todman Michael increased their stakes in the company, bringing the insider transaction to 476.22%. Prudential Financial, Inc. (NYSE: PRU), headquartered in New Jersey, has been serving clients for over 149 years since its founding in 1875. Backed by strong growth potential and a stable core performance, Morgan Stanley anticipates Prudential Financial's recovery in the second half of 2025. While we acknowledge the potential of PRU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRU and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
15-05-2025
- Business
- Associated Press
PGIM Private Capital Backs Solar Landscape with $175 Million Private Placement to Fund Distributed Rooftop Solar Projects
ASBURY PARK, N.J.--(BUSINESS WIRE)--May 15, 2025-- Solar Landscape, the nation's leading commercial rooftop solar developer, has announced a landmark $175 million long-term partnership with PGIM Private Capital, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. This press release features multimedia. View the full release here: PGIM Private Capital is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The partnership – in the form of an institutional shelf debt facility – will finance the construction and operations of 74 Solar Landscape projects in Maryland and Illinois on 3 million square feet of commercial rooftops, creating nearly 43 megawatts (DC) of solar capacity for the surrounding communities. 'Commercial rooftop solar is America's most shovel-ready energy source and this financing enables us to build more and build it faster,' said Solar Landscape Chief Financial Officer Clayton Avent. 'This debt investment is another example of PGIM Private Capital's long track record of strong investment into the energy sector. The first wave of these projects is already generating electricity to meet the country's growing demand.' The transaction marks an important step in Solar Landscape's capital markets evolution and will enable dynamic and efficient deployment of debt capital into the company's best-in-class rooftop community solar projects. The flexibility of the private shelf facility enables Solar Landscape to further expedite development and deployment cycles, generating energy into the distribution-level grid quickly and efficiently. The shelf financing from PGIM Private Capital complements Walmart's tax equity investment in the portfolio, which Walmart and Solar Landscape announced in October 2024. Subsequent shelf deployments across addressable markets are expected to follow in 2025 and beyond, further entrenching Solar Landscape's status as the nation's preeminent fully-integrated independent power producer focused on deploying solar and energy storage on commercial rooftops. For PGIM Private Capital, the investment is part of its long-term approach to investment in clean energy. 'By building solar projects on existing commercial buildings, Solar Landscape is deploying energy quickly, efficiently and close to where it will be used, making it a sound investment in our energy future,' said Ingrida Soldatova, Senior Principal, Real Assets—Power at PGIM Private Capital. 'We are always happy to continue adding to our portfolio of investments in the community solar space.' More than a dozen of the projects in the initial investment portfolio were energized recently in Maryland and the balance of the portfolio is expected to come into service in 2025. About Solar Landscape Solar Landscape is the premier commercial rooftop solar developer in the United States, partnering with the world's largest real estate owners to develop, install, and operate solar projects. Recognized as the #1 Distributed Generation Developer of 2023 by New Project Media and awarded the U.S. Department of Energy's Community Solar Grand Prize, Solar Landscape is shaping the future of clean energy. Headquartered in Asbury Park, NJ, the company also has offices in New York City, Chicago, Boston, and Baltimore. Visit for more information. About PGIM Private Capital For nearly 100 years, PGIM Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we strive to build enduring local partnerships based on a steady and patient commitment to our partners' long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $106.6 billion for our partners (as of 12.31.24). View source version on Brendon Shank, Solar Landscape, [email protected] KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS MARYLAND NEW JERSEY INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE OTHER ENERGY UTILITIES BANKING PROFESSIONAL SERVICES ALTERNATIVE ENERGY ENERGY SOURCE: Solar Landscape Copyright Business Wire 2025. PUB: 05/15/2025 12:01 PM/DISC: 05/15/2025 12:01 PM
Yahoo
15-05-2025
- Business
- Yahoo
PGIM Private Capital Backs Solar Landscape with $175 Million Private Placement to Fund Distributed Rooftop Solar Projects
Inaugural Shelf Notes Fund Commercial Rooftop Solar Portfolio in Maryland and Illinois ASBURY PARK, N.J., May 15, 2025--(BUSINESS WIRE)--Solar Landscape, the nation's leading commercial rooftop solar developer, has announced a landmark $175 million long-term partnership with PGIM Private Capital, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. PGIM Private Capital is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The partnership – in the form of an institutional shelf debt facility – will finance the construction and operations of 74 Solar Landscape projects in Maryland and Illinois on 3 million square feet of commercial rooftops, creating nearly 43 megawatts (DC) of solar capacity for the surrounding communities. "Commercial rooftop solar is America's most shovel-ready energy source and this financing enables us to build more and build it faster," said Solar Landscape Chief Financial Officer Clayton Avent. "This debt investment is another example of PGIM Private Capital's long track record of strong investment into the energy sector. The first wave of these projects is already generating electricity to meet the country's growing demand." The transaction marks an important step in Solar Landscape's capital markets evolution and will enable dynamic and efficient deployment of debt capital into the company's best-in-class rooftop community solar projects. The flexibility of the private shelf facility enables Solar Landscape to further expedite development and deployment cycles, generating energy into the distribution-level grid quickly and efficiently. The shelf financing from PGIM Private Capital complements Walmart's tax equity investment in the portfolio, which Walmart and Solar Landscape announced in October 2024. Subsequent shelf deployments across addressable markets are expected to follow in 2025 and beyond, further entrenching Solar Landscape's status as the nation's preeminent fully-integrated independent power producer focused on deploying solar and energy storage on commercial rooftops. For PGIM Private Capital, the investment is part of its long-term approach to investment in clean energy. "By building solar projects on existing commercial buildings, Solar Landscape is deploying energy quickly, efficiently and close to where it will be used, making it a sound investment in our energy future," said Ingrida Soldatova, Senior Principal, Real Assets—Power at PGIM Private Capital. "We are always happy to continue adding to our portfolio of investments in the community solar space." More than a dozen of the projects in the initial investment portfolio were energized recently in Maryland and the balance of the portfolio is expected to come into service in 2025. About Solar Landscape Solar Landscape is the premier commercial rooftop solar developer in the United States, partnering with the world's largest real estate owners to develop, install, and operate solar projects. Recognized as the #1 Distributed Generation Developer of 2023 by New Project Media and awarded the U.S. Department of Energy's Community Solar Grand Prize, Solar Landscape is shaping the future of clean energy. Headquartered in Asbury Park, NJ, the company also has offices in New York City, Chicago, Boston, and Baltimore. Visit for more information. About PGIM Private Capital For nearly 100 years, PGIM Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we strive to build enduring local partnerships based on a steady and patient commitment to our partners' long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $106.6 billion for our partners (as of 12.31.24). View source version on Contacts Brendon Shank, Solar Landscape, 202-256-2083 brendon@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
PGIM Private Capital Backs Solar Landscape with $175 Million Private Placement to Fund Distributed Rooftop Solar Projects
BUSINESS WIRE)--Solar Landscape, the nation's leading commercial rooftop solar developer, has announced a landmark $175 million long-term partnership with PGIM Private Capital, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois. 'Commercial rooftop solar is America's most shovel-ready energy source and this financing enables us to build more and build it faster." PGIM Private Capital is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The partnership – in the form of an institutional shelf debt facility – will finance the construction and operations of 74 Solar Landscape projects in Maryland and Illinois on 3 million square feet of commercial rooftops, creating nearly 43 megawatts (DC) of solar capacity for the surrounding communities. 'Commercial rooftop solar is America's most shovel-ready energy source and this financing enables us to build more and build it faster,' said Solar Landscape Chief Financial Officer Clayton Avent. 'This debt investment is another example of PGIM Private Capital's long track record of strong investment into the energy sector. The first wave of these projects is already generating electricity to meet the country's growing demand.' The transaction marks an important step in Solar Landscape's capital markets evolution and will enable dynamic and efficient deployment of debt capital into the company's best-in-class rooftop community solar projects. The flexibility of the private shelf facility enables Solar Landscape to further expedite development and deployment cycles, generating energy into the distribution-level grid quickly and efficiently. The shelf financing from PGIM Private Capital complements Walmart's tax equity investment in the portfolio, which Walmart and Solar Landscape announced in October 2024. Subsequent shelf deployments across addressable markets are expected to follow in 2025 and beyond, further entrenching Solar Landscape's status as the nation's preeminent fully-integrated independent power producer focused on deploying solar and energy storage on commercial rooftops. For PGIM Private Capital, the investment is part of its long-term approach to investment in clean energy. 'By building solar projects on existing commercial buildings, Solar Landscape is deploying energy quickly, efficiently and close to where it will be used, making it a sound investment in our energy future,' said Ingrida Soldatova, Senior Principal, Real Assets—Power at PGIM Private Capital. 'We are always happy to continue adding to our portfolio of investments in the community solar space.' More than a dozen of the projects in the initial investment portfolio were energized recently in Maryland and the balance of the portfolio is expected to come into service in 2025. About Solar Landscape Solar Landscape is the premier commercial rooftop solar developer in the United States, partnering with the world's largest real estate owners to develop, install, and operate solar projects. Recognized as the #1 Distributed Generation Developer of 2023 by New Project Media and awarded the U.S. Department of Energy's Community Solar Grand Prize, Solar Landscape is shaping the future of clean energy. Headquartered in Asbury Park, NJ, the company also has offices in New York City, Chicago, Boston, and Baltimore. Visit for more information. About PGIM Private Capital For nearly 100 years, PGIM Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we strive to build enduring local partnerships based on a steady and patient commitment to our partners' long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $106.6 billion for our partners (as of 12.31.24).
