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Wells Fargo Commits $5 Million to Establish GRID Alternatives' Tribal Solar Accelerator Fund

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New Fund will support solar projects and job training in tribal
communities

Wells Fargo (NYSE:WFC) announced today a philanthropic commitment of $5
million over three years to support solar projects in tribal communities
across the U.S.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180828005183/en/

A tribal job trainee (left) and GRID Alternatives SolarCorps Fellow (right) install solar for the Na ...

A tribal job trainee (left) and GRID Alternatives SolarCorps Fellow (right) install solar for the Navajo Nation in Arizona (Photo: Business Wire)

The donation to nonprofit GRID Alternatives, a national leader in making
solar technology and training accessible to underserved communities,
supports the founding of GRID's new Tribal Solar Accelerator Fund. The
fund is an extension of GRID's National Tribal Program and aims to
catalyze the growth of solar energy and expand solar job opportunities
on tribal lands.

"Our strong relationships in Indian Country and with our Native American
customers are a point of great pride at our company," said Mary Wenzel,
head of Sustainability and Corporate Responsibility at Wells Fargo. "We
are pleased to have such an effective working relationship with GRID
Alternatives and to provide the seed funding for its Tribal Solar
Accelerator Fund. We sincerely believe that providing no-cost solar and
job-training opportunities in tribal communities will address critical
needs and accelerate the transition to a low-carbon economy."

Support for the Tribal Solar Accelerator Fund is a significant component
of Wells Fargo's $50
million philanthropic commitment
to help address the unique
economic, social, and environmental needs of American Indian/Alaska
Native communities that was announced last year. Wells Fargo has been a
major supporter of GRID's state- and national-level programming since
2012.

GRID Alternatives' national Tribal Program has worked since 2010 to help
tribes achieve their renewable energy goals with solar, while training
tribal members to enter the solar workforce. GRID has installed
nearly 3 MW
of solar capacity in partnership with more than 40
tribes to date. The new fund will expand GRID's work and provide
much-needed capital to support the development of new projects around
the U.S.

Wells Fargo is a leader in renewable energy development. In 2017,
projects owned wholly or in part by Wells Fargo generated 7.9 percent of
all renewable energy produced in the U.S.

"Many tribes are looking to renewable energy to address both
environmental and economic challenges in their communities," said Adam
Bad Wound, Vice President of Development for GRID Alternatives. "Access
to funding is often the biggest barrier to achieving their goals, and
we're excited to be able to partner with even more tribes to move their
solar PV projects forward."

The Spokane Tribe in Wellpinit, Washington, will be the first to benefit
from the Tribal Solar Accelerator Fund, with a grant that will unlock
third-party investment capital and $1 million in matching funds from the
Department of Energy for a 637 kilowatt solar project. When complete,
the project will provide clean power and reduced energy bills for 14
tribal buildings, including elder housing, community facilities and
tribal administrative offices.

"After a near disaster during the 2016 Cayuse Mountain Fire, the Tribe
now places a premium on energy self-sufficiency," said Tim Horan,
Executive Director of the Spokane Indian Housing Authority. "We expect
solar to play a big role in helping us achieve this, and the grant from
the Tribal Solar Accelerator Fund was the last piece of the puzzle to
make our first big project happen. We're grateful to Wells Fargo and
GRID Alternatives."

The Spokane project, dubbed "Children of the Sun Solar Initiative" will
be installed by GRID's tribal team, which has already installed solar on
five homes on the reservation. It is expected to break ground this fall,
and will include hands-on solar training for tribal members and students.

Other projects slated for funding in 2018 will be announced in the
coming weeks. An open application process for 2019–20 will launch early
next year. For more information, visit www.tribalsolar.org.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo's
vision is to satisfy our customers' financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products, as well
as consumer and commercial finance through more than 8,300 locations,
13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 38 countries and territories to support customers who conduct
business in the global economy. With approximately 265,000 team members,
Wells Fargo serves one in three households in the United States. In
2017, Wells Fargo donated $286.5 million to 14,500 nonprofits and Wells
Fargo team members volunteered a record 2 million hours. Wells Fargo's
corporate social responsibility efforts are focused on three strategic
priorities: diversity and social inclusion, economic empowerment, and
environmental sustainability. News, insights and perspectives from Wells
Fargo are also available at Wells
Fargo Stories
.

About GRID Alternatives

GRID Alternatives is a national leader in making clean, affordable solar
power and solar jobs accessible to low-income communities and
communities of color. Using a unique, people-first model, GRID develops
and implements solar projects that serve qualifying households and
affordable housing providers, while providing hands-on job training.
GRID has installed solar for more than 10,600 families to-date and
helped households and housing providers save $323 million in lifetime
electricity costs, while training over 37,000 people. GRID Alternatives
has nine regional offices and affiliates serving California, Colorado,
the mid-Atlantic region, and Tribal communities nationwide, and serves
communities in Nicaragua, Nepal and Mexico. For more information, visit www.gridalternatives.org.

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