South Bend-based Inovateus Solar has announced the formation of Brilliant Capital, a solar project financing venture. The company says Brilliant Capital is a joint undertaking with Middleburg Capital Development in Virginia and LogiKan Group in South Bend with the goal of continued expansion in the clean energy industry.
Inovateus Solar says the venture will utilize its development, engineering, procurement, and construction portfolio. Brilliant Capital will serve dual roles as system owner and operator and will provide development capital for early and mid-stage solar projects.
“Finding the right solar financing partner can be a huge and cumbersome bottleneck that can delay projects from commencing construction,” said TJ Kanczuzewski, chief executive officer of Inovateus Solar. “By giving Inovateus clients easy access to Brilliant Capital’s project financing, we can speed up the development and due diligence processes and begin installing much sooner and at a lower cost.”
The company says the venture will accelerate Inovateus’ activity in commercial, industrial, municipal, and utility projects in the Midwest and throughout the U.S.
According to Inovateus Solar, the Brilliant Capital leadership team consists of Timothy and David Sutherland of MCD, Kanczuzewski of Inovateus Solar, Ashley Brickley of LogiKan Group, and former Indiana Senator Joseph Donnelly. Christopher Malkar will serve as president of Brilliant Capital.
In addition to financing projects for Inovateus clients, Brilliant Capital and Inovateus will provide assistance for developers seeking EPC and financing services.