Fifth Third Bank focuses on renewable energy

Fifth Third Bank has a unit focusing on renewable energy project finance.

Fifth Third Bank has a unit focusing on renewable energy project finance. 

Renewable energy has become a new business focus for Fifth Third Bank, with a bank team in Charlotte handling the financing for a pair of solar farms in North Carolina valued at $15 million each.

The move is significant, says Joe Olsen, president of Cornelius-based O2Energies Inc., which is building the pair of solar projects in Robeson County. Olsen's firm also has a $15 million, 4.5-megawatt project under development at the Ararat rock quarry in Surry County, in addition to its $5 million megawatt farm completed in Mount Airy in October.

A story in the Aug. 17 print edition of the Charlotte Business Journal details Fifth Third’s new strategy and its potential for boosting the renewable-energy industry in North Carolina and beyond.

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