Projective Finance announced the launch of a $7 million lending pool for solar projects in Illinois schools, providing investors access to municipal infrastructure projects.
Launch of the Lending Pool
The lending pool is aimed at funding solar energy installations across school districts in Illinois, with all loans executed entirely on-chain. This allows for transparency in all processes.
Technological Innovations
According to Projective Finance co-founder Josh Chinnaswamy, 'What traditionally required multiple intermediaries can now be accessed directly with full transparency.' The platform is built on Avalanche, providing scalability and interoperability.
Challenges in Solar Project Financing
By 2024, an estimated one in nine K–12 students will attend a school powered by solar energy. However, 'thousands of shovel-ready projects are sitting idle because traditional financing can't serve this market efficiently,' said Projective Finance co-founder Atticus Francken.
The launch of this lending pool marks an important step in supporting solar energy in Illinois schools, and leveraging blockchain technologies may help overcome traditional financing barriers.
