New River

New River Project

Regulation: CF  

New River Project is a utility-scale solar and energy storage (power plant) project located in Florida and currently in development by Solariant Capital

Funded Apr 1, 2024

Early investors get bonus rewards.

Top Reasons to Invest

  • Direct Access to Solar Project Ownership
  • Acceleration of Renewable Energy Deployment
  • Experienced Developer
  • Diversification to Your Portfolio
Offering Details
Overview
Project Details
Documents
FAQ
Updates3
Discussion

Rewards

Complete your investment
and get up to 20% additional units!

Complete your investment and get up to 20% additional units!

The exact number of bonus units will be calculated based on your investment commitment, and will be confirmed once the investment process is complete.

Please note the bonus tier structure* may be lowered if your investment tier crosses to another threshold.

Offering Terms

Regulation

Reg CF

Minimum Investment

$500

Type of Security

Crowdfunding Vehicle Units

Offering Type

Equity

Price per Unit

$1.00

Funding Goal

$50,000-$1,681,000

Project Summary

  • Technology

    PV + BESS

    • 100 MWdc (75 MWac) Photovoltaic Solar on single-axis trackers
    • Up to 70 MW, 2-hour (140 MWh) Battery Energy Storage
    • Site: 500 acres in Bradford County, Florida
    • Generation: 203,152 MWh in the first year
  • Carbon Offset

    159,000 Tons

    • Annual carbon offset: more than 159,000 tons of CO2
    • Equivalent to over 31,000 cars taken off the road or
    • Equivalent to over 15,000 homes powered
  • Project Status

    Under Development

    • Began development: Q2 2020
    • Expected completion (exit/sale**): Q4 2024 (in 18-21 months)
    • Completed: Site control and title search, feasibility studies, site design and preliminary engineering, utility grid interconnection application
    • In Process: Permitting, detailed engineering, offtake agreement, utility grid interconnection studies and agreement, EPC and O&M agreements

More about the Solar Industry

Investing in Solar Projects

Investors are investing in equity or ownership of a project company that owns a solar energy project. This solar energy project is under development, which means all of the planning that is needed to entitle or prepare the project for construction and operation of the solar power plant. Once the development is completed, the project is potentially sold (pre-construction) to a long-term owner and operator, who constructs and operates the solar power plant.

Proceeds from the sale** of the project or project company are then distributed to the investors – first, a return of the invested capital and then a pro rata share of the potential profits from the sale** according to the investor’s ownership percentage.
Solar energy project development is a well-defined process
and has been around for several decades; therefore, an experienced developer understands the process and is able to effectively mitigate most development risks. While this is not a new product and it does not require product marketing efforts to generate income, there are project development risks.
Top Reasons to Invest
  • 1. Direct Access to Solar Project Ownership – Investors will own shares or units of solar projects in the U.S., an asset class traditionally reserved for institutional, accredited investors and private equity funds.
  • 2. Acceleration of Renewable Energy Deployment – The speed of renewable energy deployment is critical in effectively combating global climate change. By providing access to a wider pool of development capital, developers are empowered to pursue an increased number of renewable energy projects.
  • 3. Experienced Developer – Solariant Capital is an experienced renewable energy developer with more than 10 years of renewable energy project development experience.
  • 4. Diversification to Your Portfolio – Provides potential diversification benefits to your portfolio.

New River Solar Project

The New River Solar Project is a utility-scale solar (100MWdc) and energy storage (140MWh) (power plant) project located in Bradford County, Florida. The project is currently in development by Solariant Capital, an experienced developer with more than 10 years of development experience and a portfolio of projects in the U.S., Japan and the Philippines.

New River will provide clean electricity to Florida’s electric grid, which benefits all power consumers by adding new power supply and helping stabilize electricity prices.
  • Battery energy storage connected to New River can harnesses excess solar energy generation efficiently and offers resiliency during disruptions in supply and demand for electricity
  • Florida’s primary source of electricity is natural gas, presenting a prime opportunity to replace and supplement GHG-intensive power generation
  • The New River Solar Project is currently in the utility interconnection queue for approval in Florida with an expected construction start date in Q4 2024.
  • The New River Solar Project’s proximity to the point of interconnection with the grid should translate into reasonable facility and network upgrade requirements. These upgrades are the cost of interconnecting with the grid and typically represent a major cost variable for power plants.
  • Transmission studies in the area previously showed ample available capacity for the grid to accommodate the New River Solar Project
  • The development, future operation, and maintenance of the New River Solar project is an investment in the local community and provides impactful opportunities for economic development, tax revenue, and job creation across multiple sectors

Florida Solar Market

Today, solar still only accounts for approximately 5% of Florida’s electricity generation, leaving plenty of room for continued growth.
  • 3rd in the U.S. with approximately 9.8 GW in total installed capacity
  • $13.6 billion in total solar investment in Florida through Q3 2022
  • Solar Energy Industry Association projects growth of 10 GW (2x installed capacity as of Q3 2022) in additional capacity over the next 5 years
  • In Q3 2022 alone, Florida installed 150 MWdc of residential solar
  • Price of solar has decreased by 52% over the last 10 years
  • "Florida Renewables Assessment Study" report indicates solar energy systems are cost competitive under various energy scenarios in the future

* This Offering involves a bonus structure based on the timing of an investment relative to the remaining number of units for sale. Bonus Crowdfunding Units will be distributed to investors based on tiers:

  • Tier 1: Individuals who purchase units in this Offering until 504,300 units are sold will receive one (1) additional unit for every five (5) units purchased.
  • Tier 2: Individuals who purchase units in this Offering after 504,300 units have been sold, until 1,008,600 units are sold, will receive one (1) additional unit for every ten (10) units purchased.
  • Tier 3: Individuals who purchase units in this Offering after 1,008,600 units have been sold, until 1,344,800 units are sold, will receive one (1) additional unit for every 20 units purchased.
  • Tier 4: Individuals who purchase units in this Offering after 1,344,800 units have been sold will not receive any bonus units.

** The sale or exit of the project cannot be guaranteed and if there is a sale or exit, a price cannot be guaranteed as several factors such as but not limited to market, economic conditions, and availability of buyers may affect the ability to exit the project.

About the Team

  • Daniel Kim

    Managing Director

  • Kevin Kohlstedt

    Head of U.S. Renewables Development

  • Andy Cerrato

    Development Manager

  • Eric Kang

    Director of Finance

  • Leesa Nayudu

    VP of Power Marketing

  • Jacob Wilson

    Assistant Director of Engineering

Project Development Budget

Development Start Date:March 14, 2019

Project Development Status

Solariant Capital team members are successful, experienced project managers and developers that can effectively manage and develop projects.

This project is 50%in progress
  • IN-PROGRESS
    Site Control and Feasibility
  • IN-PROGRESS
    Interconnection
  • IN-PROGRESS
    Natural Resource Studies
  • IN-PROGRESS
    Preliminary Engineering
  • IN-PROGRESS
    Power Marketing
  • IN-PROGRESS
    Permitting
  • IN-PROGRESS
    Detail Engineering/Constructability
  • The project’s current status is outlined in the TRC report. For a detailed breakdown you can download the document .

Project Timeline

** The sale or exit of the project cannot be guaranteed and if there is a sale or exit, a price cannot be guaranteed as several factors such as but not limited to market, economic conditions, and availability of buyers may affect the ability to exit the project.

Documents

Form C Offering Document

Investor Presentation

TRC (Third-Party) Technical Due Diligence Report

Frequently Asked Questions

What are Investment Limits for Reg CF funds?

Anyone can invest in a Regulation Crowdfunding offering. Because of the risks involved with this type of investing, however, you may be limited in how much you can invest during any 12-month period in these transactions. If you are an accredited investor (see definition below), then there are no limits on how much you can invest.

For Non-Accredited Investors (most fall into this category) the limitation on how much you can invest depends on your net worth and annual income.

If either your annual income or your net worth is less than $124,000, then during any 12-month period, you can invest up to the greater of either $2,500 or 5% of the greater of your annual income or net worth.

If both your annual income and your net worth are equal to or more than $124,000, then during any 12-month period, you can invest up to 10% of annual income or net worth, whichever is greater, but not to exceed $124,000.

What is an Accredited Investor?

How does the online investment process work for this Reg CF opportunity?

How long can this take?

Who is Andes Capital Group?

How does Andes Capital Group get compensated?

Am I now a customer of Andes Capital Group?

Why do I give information such as DOB, SSN, Driver’s License or Passport Details, Annual Income or Net Worth?

Where can I direct questions about the Issuer to get additional information?

Where can I direct additional questions about the investment application and process?

Updates

  • Mar 13, 2024

    Mar 13, 2024Project development status updated for recent milestones achieved

  • Oct 24, 2023

    Oct 24, 2023New River has been extended

  • Aug 1, 2023

    Aug 1, 2023New River offering is now live!

Discussion

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