FOR IMMEDIATE RELEASE
2/11/2026 – Huntington Beach, CA – Schelin Uldricks & Co. is pleased to announce the closing of a $27,244,300 construction loan for the development of a 6,512 kW commercial solar development project in the Town of Swansea, Massachusetts. When fully built out, the project will feature a total of approximately 10,000 ground-mounted solar module panels capable of producing 8,400,000 kWh of electricity per year along with 2.5 MW of battery storage on 27.15 acres of land.
The financing structure for the project was unique in that it provided funding for 100% of project costs during development. Upon completion, the loan converts to a 12-year lease at a pre-determined stepped-up value and the developer converts to a lessee responsible for project management and oversight. “The structure of the deal was very attractive to our client as it provided both funding for project completion and take-out, with meaningful incentives along the way,” commented Ethan Schelin, Managing Partner. The construction is expected to last approximately 12 months and will provide much needed power to the grid. “We have seen a lot of interest from investors on new energy projects to help sustain growing power needs amongst consumers and businesses,” commented Derek Uldricks, Managing Partner. “Artificial intelligence is using more power thus putting upward pressure on electricity prices. More electricity supply from renewable sources like solar are positive for all stakeholders.”
The project will take advantage of the Massachusetts SMART Program, a solar incentive program sponsored by the state that offers fixed, performance-based rates for every kilowatt-hour of electricity produced by solar panels regardless of whether they are consumed or sent back to the grid.
About Schelin Uldricks & Co.
Schelin Uldricks & Co. is a boutique firm offering investment banking services with a focus on providing capital solutions to real estate companies and other mid-sized businesses.
Headquartered in Huntington Beach, CA, Schelin Uldricks & Co. embodies an entrepreneurial culture focused on integrity, transparency, execution, and ingenuity. The founding partners bring over 35 years of collective capital markets experience in investment banking, private equity, and real estate finance. The company offers a broad array of services, including debt and equity placement, M&A, GP advisory, divestitures, and financial restructuring.