Pardee Resources Company: Solar PV Investment

Core Viewpoint - Pardee Resources Company is making a significant investment in renewable energy by acquiring a 90% equity interest in four partnerships to install solar photovoltaic systems in Virginia schools, totaling an investment of $15.2 million [1]. Investment Details - The investment will be partially financed through commercial bank loans amounting to $8.3 million at the partnership level [1]. - The solar photovoltaic systems will have a total capacity of 4.6 MW and are scheduled for installation and service commencement in Q4 2025 [1]. Strategic Partnership - Pardee Resources Company is partnering with Secure Solar Futures, a Virginia-based solar developer, to execute this renewable energy project [1]. - The investment qualifies for federal investment tax credits, which will be utilized by the company [1].