Sunwealth and North Easton Savings Bank Close $15.8MM Permanent Debt Facility
Sunwealth is pleased to announce the closing of a $15.8 million permanent debt facility with North Easton Savings Bank (NESB), reinforcing a longstanding partnership focused on financing community-based solar infrastructure.
The facility supports a portfolio of eight distributed solar projects totaling 11.4 MW DC, including one solar-plus-storage installation featuring a 240 kWh battery system. The projects serve a diversified base of offtakers, including low-income community solar subscribers and a range of commercial and community-serving organizations, generating meaningful long-term energy savings.
Sunwealth’s 178 kW rooftop array located at Boston Scientific Marlborough
This collaboration builds on an established relationship between Sunwealth and NESB. In addition to providing permanent debt financing for this portfolio, NESB has previously invested with Sunwealth as a tax equity partner — reflecting a shared commitment to disciplined underwriting and impactful clean energy deployment.
“This financing reflects our commitment to supporting well-structured projects that create lasting value right here in New England,” said Cate Adams, Chief Commercial Banking Officer at North Easton Savings Bank. “Sunwealth has demonstrated a thoughtful approach to developing and financing distributed solar assets, and we’re pleased to provide permanent capital for a portfolio that delivers reliable returns while expanding access to clean, affordable energy. As a regionally focused institution, we believe investments like these strengthen both our local economy and our shared energy future.”
“We’re grateful for our continued partnership with North Easton Savings Bank,” said Darreck Mitchell, Vice President and Director of Capital Markets at Sunwealth. “This investment demonstrates the NESB team’s strong commitment to putting capital to work in local community solar projects.“
With tax equity in place, the NESB facility completes a thoughtfully structured capital stack designed to support long-term asset stability and performance.
The 11.4 MW portfolio further expands Sunwealth’s growing base of distributed solar and storage assets serving businesses, nonprofits, and community-focused organizations. Partnerships like this reflect a shared commitment to disciplined credit standards, long-term asset performance, and expanding access to distributed clean energy.
Sunwealth values its partnership with North Easton Savings Bank and looks forward to continuing to collaborate on future opportunities.
About North Easton Savings Bank
An award-winning local financial institution with over $1.7 billion in assets, North Easton Savings Bank is the leading big-bank alternative for families and businesses in Eastern Massachusetts. Founded in 1864, NESB is a mutually owned bank that delivers top-tier financial services and re-invests earnings locally. All deposits at North Easton Savings Bank are insured in full by the FDIC and the DIF. North Easton Savings Bank is an Equal Housing Lender. For more information, please visit nesb.com.
About Sunwealth
We invest in a better energy future by financing and developing solar and storage projects that benefit a broad range of communities through clean power, carbon reduction, cost savings, and job creation. We partner with skilled local solar and storage installers, community organizations and local businesses, and investors to change who benefits from renewable energy by changing the way we invest in it.
With Sunwealth, our investors put their money directly to work in community-based solar and storage projects that benefit people and the planet. Our innovative portfolio strategy provides businesses, municipalities, and community organizations with access to affordable clean energy while creating powerful social, environmental, and financial returns. Sunwealth partners with individuals, foundations, family offices, nonprofit organizations, intermediaries, and corporations to put their money to work in portfolios of community-based solar and storage projects.