David W. Glidden, President & CEO of Middletown, Connecticut-based Liberty Bank, today announced the Bank has made a $2.5 million investment in a pool of funds dedicated to community-based solar projects across the United States.
Liberty Bank is partnering with Sunwealth, an award-winning clean energy investment firm and public benefit corporation that finances and manages solar projects. The projects, funded through Sunwealth’s Solar Impact Fund, will benefit diverse communities through clean power, carbon reduction, cost savings and job creation.
Sunwealth partners with solar developers and installers across the U.S. to finance and build small-scale solar projects benefiting non-profit organizations; office buildings and businesses; education centers and schools; and houses of worship. In addition, Liberty’s $2.5 million investment in the Solar Impact Fund will help bring green jobs and clean energy to communities, including many designated as low to moderate income (LMI).
“The solar industry has come a long way and it holds significant potential as a viable source of renewable energy and a catalyst in reducing adverse climate impact. That’s what makes our partnership with Sunwealth so vital and timely,” said Glidden. “An investment in renewable energy and solar power results in significant environmental benefits, reduced carbon footprint, consistent energy cost savings, job creation and a boost to local economies.” Paul Young, Liberty Bank Sr. Executive Vice President & CFO stated, “We were looking for investment opportunities that provided both societal and environmental benefits. The Sunwealth fund perfectly aligns with those objectives and our investment will make a meaningful difference in communities for generations to come.”
“Our $2.5 million investment, coupled with other solar-related investments we make, propels our evolving solar strategy while underscoring our commitment to a more sustainable, clean energy future,” Glidden concluded. “I am proud – and not surprised — to see Liberty Bank, a leader in my home state of Connecticut, take on a leadership role in bringing renewable energy to underserved markets,” said Jon Abe, CEO of Sunwealth. “We will put their investment to work immediately creating green jobs, clean energy and savings in our communities.”