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Oshkiimaajitahdah Solar LLC

Raised to Date: 
$198,500
34 Sunshine Investors

Min goal
$150,000
Stretch goal
$250,000
Invest Now
 Funded
ID: 
LSSF-RL-2019
Exemption: 
MNvest
Accredited Only: 
No
Reviewed Financials: 
No
Issue Type: 
Promissory Notes
Minimum Investment: 
$1,000
Target Goal: 
$250,000
Minimum Goal: 
$150,000
Suggested Investment: 
$5,000
Additional Investments: 
$50
Maximum Goal: 
$250,000
Raise Start Date: 
Wednesday, November 20, 2019
Raise End Date: 
Monday, June 1, 2020
Raise Target Date: 
Saturday, February 1, 2020
Subscription Agreement: 

 

PROJECT SUMMARY

Solar Arrays for the Oshkiimaajitahdah

The workforce development and training center of Red Lake is known in the community as the Oshkiimaajitahdah. This is an exciting time for the Oshkiimaajitahdah, as career opportunities arise for Tribal members to train into. The Red Lake Solar Project offers Tribe members Local Economic Development through Job Training leading to Quality Jobs in the solar industry. As part of a Tribal initiative to reduce dependence on fossil fuels and provide onsite training, 200 kilowatts of solar power generation with energy storage will be installed at the three largest buildings of the campus. Roughly 120 kilowatt-hours of energy storage is included in order to store the solar energy which cannot be utilized immediately but can be used at night and during power outages.

The Project Team

Red Lake Oshkiimaajitahdah Solar, LLC, will raise the funds for the construction of the solar energy generation and storage. Ralph Jacobson is the managing partner of the company, and will oversee the design, procurement, and project construction. Solar Bear will be the installation contractor and will coordinate training of solar installation personnel with Oshkiimaajitahdah staff. Bessler Electric of Bemidji, a company which hires electrical workers from the Red Lake community, will install the electrical portion of the solar, including interconnection of the solar generation to utility power at each building.

Project Financials

The total cost of the solar plus storage installations is estimated to be $305,000, of which the company expects to invest $55,000 in equity capital. The remaining $250,000 will be raised by loans from interested Minnesota residents through this MNvest website. Loans of between $2,000 and $10,000 are currently being accepted.

 

* Check out the details of the project in the Powerpoint presentation and Compiled PPM PDF links at the right of this page.  Read the Executive Summary first!  >>>