Last week, Hoosier Solar Holdings, LLC, an Indiana-based energy company, announced plans to develop solar power facilities within Indiana Opportunity Zones. Hoosier Solar plans to involve local school groups and universities by providing job training and research opportunities for Indiana students. With development planned to reach completion by 2023, these solar power facilities will have the potential to generate over 1,600 megawatts—enough to power 285,000 homes.
Additionally, in case you missed it, last week the Economic Innovation Group released “Assessing the scale and reach of Opportunity Zones’ first year”, a breakdown of Opportunity Zones successes. You can read the full blog post here.
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Hoosier Solar Holdings, LLC Developing Solar Power Facilities in Indiana Opportunity Zones
Hoosier Solar Holdings, an Indiana-based energy company, is now developing solar power facilities within Indiana Opportunity Zones. Currently, several solar and battery storage projects are underway that have the potential to generate over 1,600 megawatts—enough to power 285,000 homes. They expect many of these developments to be operational by 2023.
“Indiana has a unique opportunity to take advantage of solar power and battery storage technology to deliver reliable, low-cost power to serve the needs of residential and industrial customers,” said Paul Mitchell, Chief Executive Officer of Energy Systems Network, an Indianapolis-based partner of Hoosier Solar. “Importantly, we can attract investment capital to support development in economically distressed rural communities that have been designated as Opportunity Zones by Governor Eric Holcomb.” Hoosier Solar also plans to involve local school groups and universities by providing job training and research opportunities for Indiana students.
Construction Underway for 4,300-Acre Victory Logistics District in Nevada Opportunity Zone
Slightly under two years after the project was announced, construction is officially underway for Victory Logistics District located in a Northern Nevada Opportunity Zone. The 4,300-acre industrial complex is expected to meet the demands of the growing need for logistical and manufacturing distribution, data centers, and cold storage facilities. The project’s first development will be an 815,000 square-foot distribution center. Construction is slated for completion in the first quarter of 2022.
“Victory Logistics District will be the relief valve for the pent-up demand of the region, allowing Northern Nevada to continue to grow its industrial footprint and its national reputation as an important distribution hub of the west,” said Evan Slavik, President of Real Estate for Mark IV Capital. “The quickly-growing Northern Nevada region offers immense economic benefits to our tenants, their employees and our investors. Additionally, the location of our project insulates traffic and construction impacts from the Fernley residents, while helping to bring thousands of quality jobs to the region.”
Belpointe Public Real Estate Partnership Soon To Be Traded On the NYSE
Belpointe REIT (OTCQX: BELP) will soon be merged into Belpointe PREP, which has been approved for listing on New York Stock Exchange American (NYSE: OZ). The new structure will provide investors with a number of benefits, including the liquidity of being listed on a national securities exchange while simultaneously being able to take advantage of the pass-through depreciation deductions typically only available in private partnership structures.
Publicly traded partnerships are currently used by other firms, such as Oaktree and KKR, and have been previously used by firms such as Blackstone.