TurningPoint Energy Surpasses $1MM Community Investment Goal and Commits to Reach $3MM by 2026
Denver, CO – April 2, 2024. Solar project developer TurningPoint Energy (TPE) is proud to announce that the company has surpassed its goal of $1MM in planned local community investment. TPE is now committing to reach over $3MM in community investment donations by the end of 2026.
TurningPoint Energy makes charitable community investments in every community where its projects are located. Donations are actualized as solar projects start and complete construction. This commitment has been central to TPE’s mission since its founding in 2014 and is part of the company’s triple bottom-line approach to provide financial value in the form of competitive solar electricity rates; environmental value through emission-free, clean energy; and social value in every project community through economic development, education initiatives, and local investment.
“Central to our approach is working with communities to provide not only the environmental and financial benefits of community solar to energy consumers, but to also provide impactful investment in every one of these communities through community investment,” said TPE President Salar Naini. “We are hopeful that our approach acts as an example for other solar energy development companies and that together, we can maximize value for all communities that embrace solar development.”
In 2018, TPE committed to providing $1MM in planned community investment donations by the end of 2023. By June of 2023—six months ahead of schedule— the company had exceeded its original goal and ended the year with over $1.4MM in committed donations to local community and non-profit organizations across its solar project communities in Arkansas, Colorado, Delaware, Illinois, Maine, Maryland, Pennsylvania, New Mexico, Rhode Island, Texas, and Virginia.
In addition, TPE’s project partners and investors have donated another $1.1MM, making the combined total of local community investment into TPE’s project communities $2.5MM.
In every community it works in, TPE seeks input from community stakeholders and elected officials to select local non-profit and community organizations that provide impactful services for those in need. These range from organizations that provide food, shelter, veteran support, educational support, support services for persons with disabilities, disaster relief services, environmental services, and local community infrastructure.
Highlights from TPE’s donations to over 100 local community organizations:
- Over $1MM in planned investment across Illinois, doubling TPE’s original target of $500,000 set in 2022.
- Over $204,000 in donations across Maryland, including local schools, school 4-H and robotics programs, veteran support organizations, and community support groups.
- Over $200,000 in community investment commitment in Delaware, exceeding TPE’s $150,000 target for the state that it announced in August 2022.
- Over $29,000 in accelerated donations in 2020 to local food pantries, volunteer fire departments, and related first responder organizations to provide immediate support to local communities during the COVID-19 pandemic, as well as a challenge to other solar developers to do the same.
- Donation and solar curriculum to Deming Public Schools in Luna County, New Mexico, matched by construction partner DEPCOM Power.
- Donations to local county agricultural fairs, American Legion posts and auxiliaries, Habitat for Humanity chapters, scores of food banks, shelters, and more.
About TurningPoint Energy
TurningPoint Energy is a renewable energy development company focused on community solar with projects underway throughout the United States. Since its formation in 2014, TPE has developed over 1 gigawatt (GW) in large-scale and community solar projects across the United States. TurningPoint Energy is a lean, privately held firm that adapts to its clients’ needs and finds ways to invest in its clients and their communities…at every turning point. For more information, please visit www.turningpoint-energy.com.
Media Inquiries:
Christy Scott, Director of Marketing, [email protected]