Green Lantern Solar has completed the sale of eight net-metered solar projects in Vermont

In a significant step toward meeting Vermont’s renewable energy goals, Green Lantern Solar, an innovative renewable energy developer, has successfully sold eight net-metered solar projects to Sea Oak Capital, LLC. These community solar projects, spanning the territories of Green Mountain Power (GMP) and Vermont Electric Cooperative (VEC), represent a significant contribution to the state’s renewable energy goals.

Consumers of the energy generated by these projects include eight family farms, three dairy farms, various retailers, hotels, resorts, restaurants, a campground and a country club.

David Carpenter, vice president of development and chief legal officer at Green Lantern Solar, expressed his satisfaction with the partnership with Sea Oak Capital, highlighting Green Lantern Solar’s track record of delivering value to municipalities and communities for over 13 years and over 135 projects.

The portfolio includes a variety of projects throughout the state, including locations such as Londonderry, Castleton Heights, Pico View, Pittsford Furnace Brook, ORR, Bloom, CRB and Brighton. Despite challenges such as accelerated timelines, archaeological sensitivity, and regulatory compliance, these projects have been successfully completed or are close to completion.

Solar power generation in Vermont currently accounts for more than 20% of the state’s electricity generation, and net metering plays a key role in facilitating the use of renewable energy. Green Lantern Solar’s sale of a multi-project portfolio to Sea Oak Capital, which includes projects with notice of commencement of development (NTP) and commercial operation date (COD), further highlights the growth potential of investment in on-site solar projects.

Dan Poydenis, CEO of Sea Oak Capital, praised Green Lantern Solar for its professionalism and commitment to the success of these projects, highlighting the significant long-term savings they will provide to local small businesses.

Looking to the future, Green Lantern Solar intends to expand its reach beyond Vermont and New England by leveraging its expertise and development process in new markets.

Founded in 2010, Green Lantern Solar has played a key role in the development, construction and operation of community solar projects and commercial solar solutions, revitalizing low-value properties in a variety of sectors.

Taken together, the completion of these projects represents a significant milestone in Vermont’s clean energy transition and underscores both Green Lantern Solar and Sea Oak Capital’s commitment to sustainability and renewable energy investments.

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