CalCom Energy has launched the Agriculture Energy Infrastructure Fund, a US$100 million resource to build solar and energy storage projects that will benefit farming communities in California. The fund, developed in partnership with Symbiont Energy and Live Oak Bank, will enable agriculture companies to build on-site clean energy projects in the state of California over the next 24 months.
The fund will provide long-term, lower-cost energy through clean energy power purchase agreements (PPAs). It is specifically intended to assist agriculture companies and farmers hit hard by the impact of recent California wildfires, lack of grid resiliency and ever-increasing energy and water costs.
With a CalCom PPA and on-site solar energy, CalCom customers can now drastically reduce or eliminate their electricity costs while directly reducing carbon emissions in their local communities. CalCom estimates potential savings of US$250 million in utility bill savings for its customers over the life of the energy assets.