CIT finances approximately US$200 million for 76MW PV portfolio

January 22, 2020
Facebook
Twitter
LinkedIn
Reddit
Email
CIT’s financing was arranged on behalf of Clearway Energy Group, one of the largest developers and operators of clean energy generation facilities in the US. Image: Martin Abegglen / Flickr

CIT Group’s Power and Energy unit has arranged approximately US$200 million in financing for a 76MW portfolio of community solar projects located across four US states.

CIT’s financing was arranged on behalf of Clearway Energy Group, one of the largest developers and operators of clean energy generation facilities in the US. In total, the 76MW community-solar pipeline is comprised of 21 individual projects, located in Illinois, Massachusetts, Minnesota and New York.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Steve Ryder, chief financial officer at Clearway Energy Group, said: “Community solar projects are key contributors to the growth of clean energy generation in the US. We appreciated CIT's expertise in financing this important milestone in our community solar business.”

Mike Lorusso, managing director and group head for CIT’s Power and Energy business, added: “Empowering customers with the financing needed to reach their goals is core to CIT. This is the latest of several financings we have helped arrange for Clearway Energy Group and we are excited to work with them again to help advance the steady progress of solar power generation.”

Clearway has been active over the past year. Back in September 2019, the company completed construction and brought online three grid-scale solar power projects on the island of O‘ahu in Hawaii. 

These three projects, which will help contribute to Hawaii’s goal of achieving 100% renewable energy by 2045, will contribute approximately 3% to Hawaiian Electric’s renewable portfolio standards (RPS) goal, which reached 27% by the end of 2018.

In April 2019, Clearway sold off the 150MW North Rosamond solar project in Kern County, California to Duke Energy Renewables. 

16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
October 22, 2025
Leeward Renewable Energy has started commercial operations at its 177MW Ridgely solar project in the US state of Tennessee.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$775 million.
October 22, 2025
Abigail Ross Hopper, the president and CEO of US trade association the Solar Energy Industries Association (SEIA), has decided to step down from her roles at the end of January 2026.
October 21, 2025
Cypress Creek Renewables has achieved financial close on its 75MW Sundance solar-plus-storage project in Elbert County, Colorado.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal