Back to listings

12,270 kW on U.S. Military Housing in Fort Dix, NJ

This 12,270 KW solar project will power military housing on the first joint Air Force, Army and Navy base in the continental United States. The project is being financed through a partnership with CIT, a leading bank holding company with more than $44 billion in assets and United Communities, a military housing developer whose bonds for this development have investment-grade ratings (AA-) by Standard and Poor's. The project will be installed across 547 homes, providing approximately 30% of the electricity needs to military service members and their families.

1 Month Libor
+ 2.25% to 2.5%
Expected Investor Yield
Month Term
Total Amount
FUNDED! This project has reached its investment goal.

Project ID: 11

View Prospectus

View Note

Size (in kW): 12,270
Annual Estimated Output: 13,820,000 kWh
Number of Panels: 55,189  
Panel Type(s): Long Energy  
Panel Warranty (yrs): 25  
Inverter Type: SMA  
Inverter Warranty (yrs): 10  
Interconnection Date: Project is interconnecting in phases  
Name: United Communities, LLC
Location: Fort Dix, NJ  
Type of Solar Customer: Business
Year of Incorporation: 2005  
Contract Type: PPA
Revenues: $46,300,000 as of FY 2012  
Assets: $279,300,000 as of FY 2012  
Liabilities: $327,200,000 as of FY 2012  
Name: See Prospectus  
Location: Delaware  
Year of Incorporation: 2012  
Loan Type: Term  
Loan Term: 87 months
Loan Payment Schedule: Quarterly principal, monthly interest
Loan Interest Rate: 3.25% + LIBOR for years 1 to 4. Then 3.50% + LIBOR for the remaining term.
Revenue Sources: PPA and payments for SRECS
Debt Service Coverage Ratio: See Prospectus
Debt Service Reserve Fund: $2,000,000
Estimated Homes powered in one year: 547
Estimated Pounds of CO2 avoided per year: 21,497,055
Estimated Square Feet of solar created: 907,980
Payment Number Transaction Date Total Paid Interest Principal
26 Mar-31-2014 $593.88 $593.88 $0