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.

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

Start $1 Trial

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

Get Premium Subscription

Or continue reading this article for free

Get Basic (FREE) Subscription

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.

UPCOMING EVENT

PV ModuleTech USA 2026

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 2028 and beyond.

UPCOMING EVENT

PV CellTech USA 2026

13 October 2026

San Francisco Bay Area, USA

PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 13-14 October 2026 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023, 2024 and 2025 were a sell out success and 2026 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.