Bridge Renewable Energy, Solaris Energy and WATTMORE Sign Contract to Develop, Finance and Operate 1.8 MW Solar + Storage Project for the Rincon Band of Luiseno Indians & Harrahs Resort SoCal
SAN DIEGO–(BUSINESS WIRE)–Bridge Renewable Energy, a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”), Solaris Energy and WATTMORE, are thrilled to announce their successful closing and the kickoff of 1.8 MW of solar and storage projects across multiple facilities on the Rincon Reservation in San Diego County, CA. This deal marks the completion of nearly three years of planning, designing, grant writing and finance modeling.
“We are very excited to move forward on this new project and are committed to providing renewable energy to our people, residents, and businesses on our reservation. Together with our new partners, we are building a cutting edge solar + storage project to lower our carbon output, and decrease our monthly energy costs,” said Chairman Bo Mazzetti of the Rincon Tribe.
“We are thrilled to have reached this milestone and are grateful for our partnership with the Rincon Tribe. We believe this project demonstrates the exceptional value that solar and energy storage projects can deliver to reservations, communities, and other commercial applications. We extend our appreciation to all the parties involved in this transaction and look forward to helping bring the project to full operation,” said Bridge Renewable Energy’s Adam Haughton.
Solaris Energy and WATTMORE co-developed this project using complementary skill sets to combine incentives from the new federal Inflation Recovery Act signed into law in 2022 with State and federal grants, allowing maximization of the economics and impact for both the Tribe and the investment partner Bridge Renewable Energy.
“We’re proud to bring our passion for creative, impactful, Tribal projects and decades of renewable energy financing and development expertise to the table to help bring this project to fruition,” stated Solaris Energy’s CEO, Nick Perugini. “We’re so grateful for the Tribe’s continued commitment and for our partners in storage and financing, as well as Prosper Sustainability, Microgrid Initiatives, the Department of Energy, and California Energy Commission who all dedicated substantial resources and conducted an exceptional job to get us to this point,” added Perugini.
WATTMORE’s CEO, Jonathan W. Postal (JW), said, “Energy storage paired with solar is the key to our clean energy future. This project is a great example of perseverance and commitment to bringing multiple types of technology together to drive carbon reduction and cost savings for a great customer.”
ABOUT THE TRIBE:
The Rincon Band of Luiseño Indians is a sovereign government recognized by the United States of America. The Tribe owns Harrah’s Resort Southern California and uses profits from this and other commercial enterprises to provide government services including tribal security and environmental enforcement; economic development; healthcare and culture programs; and a tribal court. At no cost to taxpayers, Rincon’s public safety operations respond to emergencies in the neighboring communities, with more than a majority of calls generating outside the Reservation. Rincon’s tribal enterprises are significant contributors to the San Diego County economy through job creation, tax generation, purchase of local products and services and charitable donations. More information can be found at: rincon-nsn.gov.
About Solaris Energy
Grown from non-profit roots, Solaris Energy is an employee-owned Colorado Public Benefit Cooperative and Certified B Corporation that provides experienced, value-driven commercial solar development, finance, and asset management services. The company accelerates the widespread deployment of distributed solar energy systems and storage solutions by offering non-residential customers low-cost financing to reduce their environmental impact, increase their bottom line, and participate in the worldwide shift to renewable energy. Solaris Energy’s dedicated team of passionate individuals has been providing these services since 2008, building a strong track record of proven and cost-effective renewable energy solutions across all sectors of energy consumers.
For more information visit: solarisenergy.com | LinkedIn | Facebook
About WATTMORE
WATTMORE specializes in AI-powered software tools and services to empower the green energy industry to scale bigger and faster. The WATTMORE Intellect EMS platform is a state-of-the-art SaaS and Enterprise software engine built to help utilities, developers, and asset owners optimize and monetize energy storage. Follow WATTMORE on LinkedIn, Twitter and Facebook for the latest product updates and industry trends.
About Bridge Investment Group
Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $48.0 billion of assets under management as of March 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.
Contacts
Janna Shaw
Director of Communications & Corporate Development
303.746.2147 (m)
