1867 – KEAR21 LLC is a newly organized entity formed to invest in entities that plan to develop, construct, own and maintain solar photovoltaic (PV) systems and sell solar power-generated electricity to third-party customers and local utilities. The $11.06 million 1867 – KEAR21 solar tax equity fund has been issued to fund two PV solar projects in Massachusetts and Rhode Island. A subsidiary of 1867 – KEAR21 will hold companies that will own the assets and operate the projects. Following 1867 – KEAR21’s investment, it will receive 99% ownership of the projects and receive an allocation of profit and loss and IRC Section 48 Investment Tax Credits (ITC) the projects generate. These investments provide a federal income tax credit that is a percentage of the eligible project cost.