Monarch Private Capital, an ESG investment company that develops, finances, and manages a diverse portfolio of projects, announces the closure of a tax equity investment of $160 million in the 113 MW Longbow Solar project in Brazoria County, Texas. The plant is anticipated to produce clean energy and maintain energy costs for local businesses and residents.

The Longbow Solar Project is anticipated to reduce carbon dioxide emissions by at least 3.2 million MT, which is about equivalent to the annual carbon dioxide emissions of over 690,000 gas-powered passenger vehicles or more than 620,000 homes.

The company has supported investment in renewable energy projects totaling $2 billion in development expenditures with 221 facilities across 23 states since the division’s launch in 2012. The Longbow Solar Project will increase the company’s total capacity for producing clean energy to 1.6 GWdc.